Hey, just thought I'd post an easy tutorial on how to make some cool looking text with a shock effect.
Step 1 - Preparing the Text
Create a new image 400x400px with a “transparent” background. Rename the only existing layer “back”.
Fill ( Edit > Fill ) layer "back" with black ( Hext #000000 ).
Using the Horizontal Type Tool, write some large text in white ( Hex #FFFFFF ). For this tutorial, I wrote “N-sane” in 80 pt with the font Impact.

Rasterize the text ( Layer > Rasterize > Text ). Rename the layer that has the now rasterized text “Text”.
Step 2 - Vertical Wind
Duplicate layer “Text” and rename the new layer “Text 2”. Hide layer “Text 2” by clicking on the eye to the left of it on the Layer Palette.
Activate layer “Text” on the Layer Palette and merge all visible layers ( Layer > Merge Visible ).
Transform the image 90 degrees clockwise ( Edit > Transform > 90 degrees CW )
Apply the Wind filter ( Filter > Stylize > Wind ) with the method “Wind” and the Direction “From the Right”. Repeat ( Ctrl-f ) this filter.

Now, apply the Wind filter ( Filter > Stylize > Wind ) again except this time, use the Direction “From the Left”. Repeat ( Ctrl-f ) this filter.
Step 3 - Horizontal Wind
Transform the image 90 degrees counter-clockwise ( Edit > Transform > 90 degrees CCW ). We are now going to apply the Wind filter again except this time, only once in each direction.

Apply the Wind filter ( Filter > Stylize > Wind ) with the method “Wind” and the Direction “From the Right”.
Now, apply the Wind filter ( Filter > Stylize > Wind ) again except this time, use the Direction “From the Left”.

Apply the Ripple Filter ( Filter > Distort > Ripple ) to make the light wavy.

Open the Hue/Saturation window ( Image > Adjustments > Hue/Saturation ) and press Ok with the default values.
Step 4 - Final Touches
Unhide layer “Text 2” and activate it on the Layer Palette.
Select the text on the layer by pressing Ctrl then clicking on the thumbnail of the layer on the Layer Palette.
Contract ( Select > Contract ) the selection by 2 pixels. Now Fill ( Edit > Fill ) in the selection with black ( Hex #000000 ).

Hope some find this usefull