I'm having a bit of trouble trying to grasp what you want that point to do. Travel down the spline? Which spline? The long wiggly one or the vertical short one? Are you looking for automation of the entire wiggle or just the shapes that create the "3d" effect of the wiggling ribbon?
I think slowtiger is on to something. The motion of the points isn't really follow a spline, it is defined by some formula and... uh... wait a second...
OH CRAP!
It just popped into my head what you are asking!!! I get it I get it. You want that little green shape to "travel down" the spline. It would be a separate mesh or group of points. It kind of "flows" down the wiggling shape.
Imagine the top and bottom splines of the "ribbon' are "paths" to follow. If the "corners" or shape itself can follow the path you could just make the path wiggle and that shape would conform to it creating a pseudo "3d" effect.
That might be "possible" but it would require... a bunch of points assigned at specific distances along the spline. The distances would follow some kind of formula but I suppose it could be "tweaked" and done by eye.
Currently my script can only do one point at a specific spot based on the rotation of a bone. It would need to be expanded in some way so that any number of points would follow the same path at specified percentages along the path...
... this makes me a bit sleepy thinking about right now... haven't had my coffee yet.
-vern