FNT Editor 1.0 is live!

[pd]

You can just make your characters less high. But that will increase the vertical distance of lines.
The height of 16 is fixed, as in hardcoded, it can't be edited without editing the game.

Sweetness! MAKE MORE TOOLS!

New stuff is planned, but unfortunately I won't have much or even any time for these sorts of things in the next few months.