Continue some more until you get to the "L" sound. Now I'll take this opportunity to point out that all consenants must last at least 2 frames for them to be even felt. So all the closed shapes, "M," "B," "P," "F," "T," and "V" need to last for at least 2 frames.
Oh, and don't think that during the "oo" part of "Ludwig" that you'll put a bunch of "O"s. The sound you hear is "ooo" and the sound of "O" is "oh." So put "U" for the "oooo" part.
During short pauses, as between the words "Ludwig" and "version," just leave the last shape of the last word ("G" in this case) until the new word starts. There isn't time to close your mouth, so to speak. Literally, actually.
Once you've gotten the first 40 frames or so (which consists of, "My name is Ludwig") select them all and press the PSF button. Does it look all right? Does the mouth appear to actually be saying the words? Forget whether it's lined up exactly right, what you want is for it to look right. You want it to look as if the mouth is actually saying the words, "My name is Ludwig."
(It would also be a good idea to save your work at this point.)
Keeping going until you get to the end. Leave the last shape for a few frames after the dialogue has stopped, then make the last 8 frames or so "Closed."
Playback all of it. Does it look like the mouth is saying, "My name is Ludwig, version X6?" If it doesn't then fix the parts that don't look right. Mine looked great (if I do say so myself) and here's my spread sheet for the whole audio track.
Now that we have our spread sheet with our dialogue all mapped out, we can open up Ludwig into Blender and let's get started on the real animation part!
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