Here's one I found playing around. I'd been looking for a highlighted beveled text effect and this works well. I used black as the final result as that's one of the hardest to get a 3D look for.

I started with a white background, 16 million colors.
Select color r-192 b-192 g-192 for the foreground.
Do not disselect

Selections-Modify-Feather 5
Image-Special Effects-Cutout Black blur:10 Vert:4 Hor:4
Disselect text

Change white to the foreground color
Image- Special Effects-Hot Wax coating

Color-Adjust-Brightness/Contrast Bright:9 contrast:0

Normal Filters-Sharpen More 2 times That's it!

You can use other colors for this effect too as long as you use very light colors to start out with. I've used others and used the modify opacity to start before the feather.

PSP 4.0 Tips and Tricks Index