That kinda makes sense, actually. Type everything out first, then search and replace with the required commands. Only downside is that's a one way street, but maybe they had some sort of backup for that.
Interesting little tidbit about the dream sequence speech btw, when they step out of the elevator there are two copies of the "There's no turning back now" speech. One is said by "party member 2 (whoever the game happens to choose)" and another is specifically specified to be Leena. Maybe the party there was going to be Serge, Leena, and Kid before they decided on the random party member. That's the only line of that sequence where there's a copy specifically for Leena, the rest of the dialogue in this part just has "party member 2".
Also been trying to find a way to look at the models, seems like most of them are .OBJ files with .TIM textures, but the .OBJ files can't simply be imported in Blender or 3D Studio Max. Maybe there's some encryption or weird file structure going on.
There's also a pretty high res picture of the cinematic Frozen Flame model in the launcher files. Don't know where it's being used tho. I heard before that they didn't re-render the cinematics in higher resolution because they no longer have the original game files, but they must still have something if they were able to make a high quality render like this.