Well, just made a small test tagwall where all the messages is stored in a text file. (http://www.justrandb.dk/tagwall/debatforum.php) Basically it's all about how you write to the file. Then it's no problem to read the text file again.
Example :
$message = "bla bla bla";
$post = "<table><tr><td>$message</td></tr></table>"
$filename = "yourfile.txt";
$flogpost = fopen ($filename , "a");
fputs ($flogpost , "$post \n<br>\n");
fclose ($flogpost);
$filename = "yourfile.txt";
$funlogpost = fopen ($filename , "e");
$idantal = fread ($funlogpost, filesize ($filename));
echo $funlogpost;
Hope this might can help you a bit.
fclose ($flogpost);