first image:
second image:
well for applying color hover, i already explained it 🙂
lets discuss on transparent text:
- on the background layer, create a new layer with opacity 50%
- write the text on that layer
- adjust the text position as you desire (hold alt key and use cursor to move, incline etc)
- now add some blending options to the text as you like (its up to you what type of blend you want to apply)
as for me i applied inned shadow, inner glow, outer glow & satin - you can also use the sharpen tool or blur tool to make the look attractive (though i did not)
now you are done 🙂