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Na11,  if this is the effect you want:  1.  space text a bit   2.  Use the "Bevel & Emboss" tool (inner bevel) in the FX dropdown at the bottom of the "Layers" panel (I'm using CS6).  3. Adjust the depth, opacity, and light direction to get the effect you desire of the darker inset (you referred to it as "pushed in glass").  4.  Use the "Drop Shadow" tool, also in the FX dropdown, adjust the color to white and play with opacity, depth, distance, etc to get the look you want.  5.  Add a mask over the text and then use a soft brush to darken the bottom half of the letters a bit.  6. Use the same mask on a new layer and contract the mask by a couple of pixels to pull it from the edge of the text.  7.  Use a soft white brush to highlight the upper edge of the mask.  8.  Use a harder edged eraser to adjust the shape of the lower edges of the area you just highlighted.  9.  Give the highlighted layer a slight gaussian blur (1-2 pixels) to soften the overall effect. 

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