You can always change the content of your tooltip after its created by using it's setter like this...
$( ".selector" ).tooltip( "option", "content", "Awesome title!" );
-- 2ND UPDATE --
OK, I figured out how to get the jQuery UI added to jsFiddle. This is how I would solve your problem: http://jsfiddle.net/spZ69/3/
Obviously the ajax call won't work but just replace the url ajax/test.html
with your url that returns text and it will replace the tooltip's text.