From a distance, the first word goes from "Stab" to "S.A.T.B." when the screen goes to a close-up. Also from a distance, the second and last word looks scribbled in.
As noted above, "S.A.T.B." was actually closer to "Stab", and at first the second and last word isn't distinguishable, only in a close-up does it say "Camtempt". Since "camtempt" isn't a word, it mostly likely was supposed to say "contempt". This isn't known for sure, but if the change was intentional it may have meant to say "Stab Contempt", which would be pushing an already borderline dark film meant for kids. What this says about the yellow hands and if they're a subsistute for red is equally as unknown.
When Mr. McKnight and Mayor Corey walk in the door, the words and images in the picture (along with the other three) disappear.