I find the text quite sharp, especially over DVI. Even over DSUB it's quite passable (my laptop doesn't have DVI out).
I wrote lots of code for my VBA class, and never had a problem at all, except for maybe having to turn my head to see the whole screen
The 2407-HC version should have slightly more accurate color reproduction than the 2407 that I have.
BTW, just a note, the 2407 won't take an interlaced signal (read: 1080i) over the DVI. This afternoon I switched to component from my HD-DVR and ran 1080i and it didn't look nearly as good as the 720p via HDMI/DVI. Just keep that in mind if you are going to hook something like the Toshiba HD-A2 up to it.