First off I'd like to say I did not figure out how the script works. Reddit user oposdeo did and they made a post about it. The information on this page is just a copy for my own documentation so all credit goes to them.

Pages 21 and 54 of the Instruction Booklet give some insight on how it works.

The script is english however it uses phonemes instead of letters. Each character has 2 parts it can be made of. One part which consists of the outer lines make a vowel. While the other part consists of all the inner lines to make a consonant. This means a single character can either be a vowel, a consonant, or both a vowel and a consonsant.

Characters

1* 2* All the characters are shown on page 54 in the instruction booklet. Each character in the script generally appears in the format of 1*. The dashed lines represent the possible lines that appear in it. The solid horizontal line through the center is generally used to tell length and orientation. When a break appears in it this means there is a space as well as in the instruction booklet there are some cases where text is sideways or upside down. We can imagine the vertical lines just pass through the center to make it easier to understand as shown in the 2*.

An optional circle is noted on page 21 in the instruction booklet. The circle can appear at the bottom of the character if it is made of both a consonant and vowel. If the circle is present then the vowel comes first followed by the cononsant. Otherwise by default the consonant will come first followed by the vowel.

Vowels consist of only the outer lines. There are five total possible lines here the two on the top, two on the bottom, and the one on the left. Note that there is no right side line. When multiple characters are connected to one another the right side will actually belong to the following character as it's left side if it uses it.

Something to note is that if the left line is part of the character it will be there even if there are no connecting lines to it. As seen in the vowel /eə/ which is shown to the left with solid lines.

Consonants consist of only the inner lines. There are seven total possible lines here the three on the top, the three on the bottom, and the one in the center.

Something to note is that sometimes the center connecting line will not be present even when there are top and bottom lines that would connect to it. This is usually seen in the consonant /n/ which is shown to the left with solid lines.

Below is a full list of all the vowels and consonants that are used.

Vowels

A /æ/ (as in Glass)
AR /ɑ:/ (as in Arm)
AH /ɒ/ (as in Swan)
AY /eɪ/ (as in Bay)
E /e/ (as in End)
EE /i:/ (as in Bee)
EER /ɪə/ (as in Beer)
EH /ə/ (as in The)
ERE /eə/ (as in Air)
I /ɪ/ (as in Bit)
IE /aɪ/ (as in Guy)
IR /ɜ:/ (as in Bird)
OH /oʊ/ (as in Toe)
OI /ɔɪ/ (as in Toy)
OO /u:/ (as in Too)
OU /ʊ/ (as in Wolf)
OW /aʊ/ (as in How)
ORE /ʊə/ (as in Your)

Consonants

B /b/ (as in Baby)
CH /tʃ/ (as in Chat)
D /d/ (as in Dog)
F /f/ (as in Fox)
G /g/ (as in Gun)
H /h/ (as in Hop)
J /dʒ/ (as in Jam)
K /k/ (as in Kart, Cat)
L /l/ (as in Live)
M /m/ (as in Man)
N /n/ (as in Net)
NG /ŋ/ (as in Rink)
P /p/ (as in Poppy)
R /r/ (as in Run)
S /s/ (as in Sit)
SH /ʃ/ (as in Shut)
T /t/ (as in Tunic)
TH /θ/ (as in Thick)
TH /ð/ (as in This)
V /v/ (as in Vine)
W /w/ (as in Wit)
Y /j/ (as in You)
Z /z/ (as in Zit)
ZH /ʒ/ (as in Azure)

Single Character Words

/ə/ a
/ɑ:/ are
/æz/ as
/bi:/ be
/ɪn/ in
/ɪs/ is
/ɪt/ it
/mʊə/ more
/əv/ of
/si:/ see
/ə/ the
/tu:/ to
/ə/ us
/hu:/ who
/yu:/ you

Double Character Words

/ænd/ and
/kæn/ can
/dɪd/ did
/ðem/ them
/taɪm/ time
/veəi:/ very

Triple Character Words

/kænɒt/ can't

Now see if you can read this text!