With your "Shadows" layer still active go to Layer>Layer Style>Bevel and Emboss... and change the following values: Change your Gloss Countour to "Cave-Deep"
and enter 100% for both Opacity values just below it.
Your picture should look like the one above after adjusting your "Shadows" layer style. Now you need to merge your "Shadows" layer with your original text layer. In order to do that, first, with your "Shadows" layer active click on the empty box
by the left side of your Text layer, doing so will link your "Shadows" layer to the text layer, a Link icon
will appear indicating that the layers have been linked. Now click on the little arrow pointing right
at the top of your Layers window and select "Merge Linked" to merge your linked layers together. Both layers now become one, name this new layer "Text".
Now make a new layer above all layers. Name your new layer "Color". With the "Color" layer active Ctrl+click (Mac: Command+Click) on your "Text" layer to make a selection, then pick some orange or yellow color and press Ctrl+Delete (Mac: Command: Del) to fill the selection with the new color. After that choose Overlay for your "Color" layer mode. Your layers should look like the ones shown on the picture below, only my layer is named "GS" and yours should be "Text".
More Tutorials: 
