Step by step to make your text become transparent blue
Here are the example:

1. Create a new document 360×190 pixels, the background color to white.like the following pic:

2. Double-click the layer or layers in the right-click pop-up menu, select Blending Options. Projection menu options (Drop shadow), the model (Blend Mode) adjusted for positive stacking (Multiply), Found in the back you need to color box to choose the color, not transparent (Opacity) to 70%, angle (Angle) 90 degrees, the role of the back story to all (Use Global Light) is not selected, the distance (Distance) for 10PX, the expansion of (Spread) for 0%, size (Size) for 7PX. The following quality (Quality) on by default.

Distance : The shift away from the shadow set.

Expansion : the effect of setting the edge intensity projection, numerical Vietnam, the results will be obvious that the transition will be stiff.

Size : can be set to the fuzzy extent of the shadow.Like the followig pic:

3. Then open in the shadow of (Inner Shadow), model (Blend Mode) is also adjusted for positive stacking (Multiply), the back up device to pick up the new color in color (the color with a different step), non-transparency (Opacity) 85 %, angle (Angle) to 90 degrees, the distance (Distance) for 7PX, obstruction (Choke) value of 25%, size (Size) for 13PX. Quality (Quality) by default. Like the following pic:

4. The following are outside the light-emitting (Outer Glow), mode set to screen mode (Screen), opacity (Opaction) 60%, noise reduction (Noise) to 0% in the noise filled the following two choices One is a direct single-color fill, a transitional, where we have chosen to fill monochrome direct methods (Technique), choose soft (Softer), expansion (Spread) for 0%, size (Size) for 13PX.
Like the following pic:

5. It is within the LED (Inner Glow) mode selection for positive stacking (Multiply), opacity (Opaction) 50%, noise reduction (Noise) to 0%, monochrome direct elections to fill, the way (Technique) choose soft (Softer), light source (Source) selected edge (Edge), obstruction (Chake) 0%, size (Size) for 5PX, quality (Quality) by default.Like the following pic:

6.Ok  now  slope and relief now (Bevel and Emboss), style (Style) with the bevel options (Inner Bevel) approach (Technique) to choose smoothing (Smooth), choice (Up) for light , size (Size) for 7PX, soft values (Soften) for 2PX, angle (Angle) to 90 degrees and a high (Altitude) 67 degrees, high optical mode (Highlight Mode) Select the screen (Screen) mode, pick up a white color box to select , the shadow model (Shadow Mode) stack feature options (Multiply), pick up a black color.
Like the following pic:

7. Slope and relief in the following two options are the contour (Contour) and texture (Texture). Here we have chosen to contour (Contour) adjustment inside contour (Contour), a specific plan are as follows:

8. Open coloring (Satin) menu, select Overlay mode (Overlay), pick up color box to select a new color, opacity value of 100%, angle (Angle) to 90 degrees, the distance (Distance) for 23PX, size ( Size) for 23PX, contour (Contour), select the type of one of the most appropriate. As the following pic:

9. Here is the final step, the color overlay (Color Overlay), the normal mode (Normal), color box in the pick up after the election of a color, opaque (Opacity) value of 100%

10. Finally, the picture is complete edit like the following picture but the effect of different fonts to make different adjustments, not bowls, which described above is just a font of practice..

only 10 step you can edit the text become transparent blue…
Enjoy^^