couldn't you convert the text to shapes/outlines?

You can do it, but it would be very time-consuming for anything longer than a headline, and it would necessitate converting your text to outline, so you'd have to do it as the last step once your were happy with the rest of the typesetting.

Convert the stroked text to outline, then expand the appearance of the stroke & fill (Object>expand...) ungroup the objects, then direct select the stroke shapes only (watch out for all the shapes around the counter forms), sending them each to the back, and lastly use the pathfinder to subtract from back, one letter at a time, leaving only the parts not covered by the strokes.

Maybe someone else knows a more efficient way... hope this helps!

Here's something that might work, I tried it out in CS2 in Windows and it seemed to do what you're trying for.

1. Select the text that you've added the stroke to and convert it to outlines
2. Select the text with the black arrow tool and choose Object>Expand>Stroke
3. Keeping everything selected, then click on Divide in the pathfinder pallette
4. Deselect the text and with the white arrow tool, click on one of the fills that you want to keep (you should see just the inner fill selected)
5. Chose Same>Fill Color from the Select menu. All of the fills in your logo should be selected
6. Click Ctl-3 to hide all of the fills, the expanded strokes should still be visible
7. Select one of the strokes, then select Same>Stroke Color from the select menu
8. Delete the selection.
9. Click Ctl-Alt-3 to unhide all and the "eaten away" fills should be there.

You may need to experiment with this, but I got it to work a couple of times. Good luck,

SMSapphire