NGUIText.WrapText definitely assumes space-separated words, and thus word wrapping behaves poorly for most Asian languages where spaces aren't used as delimiters. Further, most Asian languages have fun requirements where certain characters can't begin/end on a line (English has similar requirements, but they're mostly covered as a side-effect of using space as a separator).
There are very few libraries out there to tackle this (libtextwrap is one), and I haven't found any that would be particularly easy to integrate into NGUI. It's not a trivial problem, which is to say it's not something I want to implement on my own.

Has anyone out there tackled this? Is it anywhere on the NGUI roadmap?