Start off with black text on a white background.
The text doesn't have to be any particular font;
sans-serif and fancy both look fine in this
technique.
Blur the text. (Filter/Blur/Gaussian Blur)
You should keep the blur down to a maximum or 4.
I used a radius of 3 pixels for this.
Now, adjust the curves for the image (Ctrl-M or
Image/Adjust/Curves). Work only in the main
RGB channel for this.
Experiment with the curves until you get an effect that looks
nice: they generally should look like the image at right.
For even more fun, after adjusting the curves in RGB, work in
the individual Red, Green, and Blue channels to get
satiny effects. I created the image at bottom right
by adjusting the curves in green and blue and toning down the
red channel.
