The document provides instructions for creating liquid text effects by distorting text using a glass filter with a blurred text channel as the displacement map. Key steps include:
1. Creating a text channel on an image background and blurring it to use as a displacement map.
2. Applying the glass filter using the blurred channel as the texture to distort a copy of the background image.
3. Clipping the undistorted text layer to the distorted glass layer to combine them.
4. Adding layer styles like bevel and emboss, drop shadow, outer glow, and inner glow to enhance the liquid text effect.