The one thing I realize with the youth of today

[abaris]

I think mastery even of your own language is definitely a sign of intelligence.  It involves communication and a good application of knowledge.

That's not to say that people who use text speak are necessarily stupid either, it could be laziness or intentionally dumbing down to fit in.

I wouldn't say it's about intelligence, it's about education. I've met very intelligent persons, who weren't able to read or write correctly. Reading or writing are aquired skills, not something you can explain away with intelligence.