Is there a consumer-level video editing program (<$100)I could use to
create a "follow the bouncing ball" effect? I want to be able to
scroll text and have an animated ball following the words.

My suggestion is to ook at some software, perhaps Adobe, and then go
over to their user forums. Join, you ond't have to be a member to join
the user forums, and ask there. Before I buy software I always go to
the user forums and read all the issues, and also pose any questions.