How to create 3D(Raised) Text - Tutorial
Step1: Using text tool creates floating selection.

Step2: Using gradient fill tool renders the selection, then converts it to new layer.

Gradient Type: Shapeburst
Step3: Applys gaussian blur filter.
Step4: Applys emboss filter.

Step5: Using clone tool renders the layer.

Clone Source: Texture

Brush Mode: Overlay

 

 

How to create 3D(Lowered) Text - Tutorial

Step1: Using text tool creates floating selection.

Step2: Using gradient fill tool renders the selection, then converts it to new layer.

Gradient Type: Shapeburst
Step3: Applys invert filter, then applys dilation filter to alpha channel.
Step4: Applys gaussian blur filter.
Step5: Applys emboss filter.

Step6: Using clone tool renders the layer.

Clone Source: Texture

Brush Mode: Overlay