I was wondering if the Google bots would decode the word below and index it as two separate words or would Google just index it as one sting of letters/word? The words below are just examples of what I'm talking about. RgIeCtH or MmOaNkEeY LfOiVnEd etc.etc.. So is Google smart enough to know what these means?
First question is, why? Unless someone is specifically searching for those terms they do you absolutely no good. On to your question, Google will take those words as one word, unless it's an obvious choice of two words then they give the option to change the search results to two words.
I think it is not just the both but a feature on Google algorithm, besides they already implementing that "Did you mean..." correcting the grammar feature. In the future, you might even Google your horoscope and gives you a close prediction..
If they were actual words, then yes. Since they aren't then no, unless you want to be proud of your #1 ranking for RgIeCtH that NEVER would get searched. If it is a capitalization question, Google ignores CAPS.
I did wonder if the caps made a difference. Or if it went even further and each group of letters were different colors, bolded, font's, size, etc..