Then create a new layer: Layer – New – Layer and group it with the layer the text is situated on, just not to get outside the letters edges: Layer – Create Clipping Mask (ctrl+g). After that we have to take the Pen Tool with Fill Path command to insert a kind of wavy flare on the letters:

stained art glass text effects

Minimize this layer's Opacity
till 65%.

stained art glass text effects

Get back to the text's layer and make it less bright. We have to select again for this operation the Type Tool, mark out the text and choose from the colors' palette the appropriate color:

stained art glass text effects