Or... if as you say the text is more or less static, just bake it into an sf::RenderTexture and draw that instead. This is one of the reasons SFGUI can get away with ~3000 FPS running the demo (which has a relatively large amount of text) on my machine. It is a bit "cheaty" I guess, because this FPS value comes from the average frame time. In games development this doesn't mean anything however, and the harder constraint is the maximum frame time which is anywhere between 5ms and 14ms in the demo (16ms would be required for the magical 60 FPS, so we are pushing it). Players just hate stuttering as we all know. I assume that those are the frames when the FBO is refreshed as part of the demo GUI being all fancy and updating every now and then.
SFGUI's optimization is still a bit primitive in this regard, because it only caches the whole screen contents. If the GUI was broken down into subsections, the impact wouldn't be that dramatic when it has to be regenerated, but you lose out on that theoretical "single quad for the whole GUI" thing. As always, it's a trade-off that has to be considered. Big studios even spread out their updates over multiple frames based on time budgets that they have per frame. This also helps to reduce sudden stuttering.
Batching geometry was something that was already done early on in SFGUI, and even after reducing the number of draw calls (as you are attempting to do) there are still other bottlenecks. The OpenGL pipeline is fairly long, and you will have to be willing to look into every stage of it if you are seeking performance improvements. This is where the exact measurements of every step of the rendering process comes in, not only on the CPU but on the GPU as well (using the proper tools). Ultimately, you have to think more about reducing the amount of work that has to be done in total rather than transforming that work into another form. Work will always have to be done by someone/something, but the work itself will not always have to be done.
Maybe I should start writing a little utility library of my own that provides some of the more intricate optimizations... But considering that SFML 3 is supposed to come at some point, it's hard to pick what to invest my time into.