1. Open a new document (default PS size should be fine), and make the background black.
2. Using the text tool, write a largish word in white. Works best with bolder fonts - I used "vein" (from dafont.com) at 72px. You should have something like this:
3. Make a copy of the text layer by either dragging the layer over the New Layer button or right-clicking on the layer and selecting "Duplicate Layer". Right click the copy, choose "Rasterize Type" and make a copy of the copy, so you should have something like this:
4. Select one of the copies, and use the Motion Blur (Filter => Blur => Motion Blur) with an angle of 0 and distance of 30. Enter Ctrl+F to repeat the filter. Now, select the other copied layer and apply the Motion Blur, but this time with an angle of 45 (distance still 30). Ctrl+F again to repeat. It should now look similar to this:
5. Click the New Layer button, and press the D key to set the default palette colours. Apply the cloud filter (Filter => Render => Clouds). Press Ctrl+U or go Image => Adjustments => Hue/Saturation to bring up the Hue/Saturation dialog. Make sure the "Colorize" field is checked, and enter the following values - Hue: 222, Saturation: 75, Lightness: 0. You should now have this:
6. Drag the original text layer up to the top of the stack, so that the order is "yourtext", Clouds layer, two "yourtext" copies and Background. Now select the Clouds layer and choose Color Burn from the Blending Modes, like this:
7. If you have Photoshop CS or CS 2, Shift+Click the two text copies, right click without releasing the Shift key and select Merge Layers, like so:
Alternately, or if you have another version, merge them by clicking the top layer and pressing Ctrl+E or selecting Layer => Merge Down to merge them.
8. Click on your newly merged layer to select it, and press Ctrl+T or selecting Edit => Transform => Free Transform. Drag the layer out a little bit so it borders the text a little better. You can also enter in the values, I used Width: 105.0% and Height: 110.0%. Press the little tick in the corner to complete the change, if you've mucked up click the crossed circle and start again.
9. Now, copy the layer by dragging the layer over the New Layer button or right-clicking on the layer and selecting "Duplicate Layer". Select 40% or something thereabouts for Fill, depending on your personal taste.
10. Choose your original text layer (the one at the top), and apply Bevel and Emboss (click on the Fireworks logo or select Layer => Layer Style => Bevel and Emboss) with the following options.
Note that the Gloss Contour is called "Cove - Deep" and the colour for the Shadow Mode is #074f82.
11. Crop your image to a nicer size, and you're finished! I got this:
And as always, by changing the colours or options a little you can get a totally different look. If you finished the entire thing and fancied a different colour, click the clouds layer (Layer 1 or Layer 2), press Ctrl+U and drag the Hue bar to another colour.
