Does anyone know how to create a smoke text effect like this?

Duplcate the layer you want to turn to smoke. Turn on the trans lock and airbrush it grey, do some highlights too if you want. Then Filter>Blur>Motion Blur, make sure you've set it to verticle. Experiment with the amount of blur then say "OK". Now you can use smudge or in my case, I use the liquify tool (PS6) to create the wavey trailing off look. Keep trying until you get it right.

Eye Candy 4000 is ok, but nothing worth paying for. I know, because I own it (big mistake). It's great for people with no intention of learning techniques and people who have no talent.

Hope that helps...

Thanks tre! I'll try that out.

So Eyecandy isn't worth buying? I spoke to the guy who made those graphics, and he seemed to love it.

Eye Candy does live up to its name. It just takes the fun, allot of control and skill out of creating some effects. If you just want to apply things quickly, then sure... go for it. It's just not for me. I like to know how something is created rather than "what plug-in did you use". ;)

Plus Photoshop 6's "layer styles" is a much more powerful method of creating gooey graphics. If you haven't got PS6, save that money up for it, you'd get more out of it. :D

Yep i own PS6. I've just been hearing such great things about some of the plug-in's that are available for it.

I still haven't gotten around to trying that effect you described before. I think i'll go do it now.