The stock version of Swype that comes with the Android Bionic phone, in short, sucks a big one. It's a slow, 2 year old beta, that has more errors than is useful. If you rooted your phone, here is how to put on a current version of Swype correctly.I take no responsibility if you brick your phone, if you are smart enough to root your phone, then you should be smart enough to recover a bricked phone and put it back to stock in a worse case scenario. But in short, this worked for me, as well as others using a Bionic or Moto Variant (i.e. DroidX).
Get a root file manager (I use root explorer)
1. Change your default input method to anything other than Swype.
2. Mount file system as R/W
3. Delete (or move/rename) \system\app\swype.apk
4. Delete (or move/rename) \data\dalvik-cache\system@app@Swype.apk@classes.dex
5. Delete (or move/rename) \system\lib\libSwypeCore.so
6. Reboot
7. Download and Run the latest Swype Beta installer
8. ENJOY!