This is a easy cold effect. First off, create a new image, 400x400 or 500x500.
1) Fill the image with a color with The Paint Bucket.
2) Go to Filter -> Artistic -> Sponge, Keep Default Options...

Make new file, I've use 300x100.
1) Create New Layer and with the Type Mask Tool type your text...
2) Fill it with the paint bucket. Then Deselect...

1) Create new file with your own sizes.
2) With the Text Tool type your tex. I've use InKaBod.
3) Fill it with 004D95.
4) Use this Layer Styles (the litle "F" in the Layer Block or Layer -> Layer Style):...

Make a New Image. I've use 300 x 300.
1) With the Elliptical Marquee Tool set style to Fexed Size Im suppossing you are ussing 300 x 300, set Width 275 px and Height 275 px.
2) Press X and D to reset your colors. Check "Reverse". Watch the image and Gradient like it:...

Create a New File.
1) Filter -> Noise -> Add Noise (keep default options).
2) Now go to Filter -> Blur -> Radial Blur and use this settings: Amount: 100, Method: Zoom, Quality: Best...

1) Create new file. 500 x 500 is ok.
2) Press X and D to reset your colors.
3) First OFF, set the gradient tool, change mode to Differences and... GO WILD!!!...

1) Create new file with your own sizes.
2) With the Type Mask Tool type your text.
3) Fill it with a color.
4) Then deselect and go to Filter -> Stylize -> Find Edges...

1) Create new file with your own sizes.
2) With the Text Tool type your tex. I've use Excalibur Logotype Font.
3) Fill it with a color, like red, blue, orange, green. Please don't use black or white...

Create new file, 500 x 500 is ok.
1) Press X and D to reset colors.x
2) Use Filter -> Render -> Clouds.
3) Then Filter -> Pixelate -> Mezzoint -> Long Strokes...

This sophisticated effect takes only a couple of steps to accomplish. Try it out.