Text Effect Does Not Appear

Question

I have never encountered this problem before. I wanted to make my copyright watermark more striking, so I created a variation on the relatively well-known "glass" text effect, but the effect will not print, nor will it show up when the file is saved as anything other than a psd. I have tried to rasterize the text, rasterize the layer, and convert it into a smart object; I get nothing. I have exported it to Illustrator, and I get nothing. I have just opened the psd in other programs that read the psd format, and I get nothing: it always just turns out as flat, unaltered text. Even Photoshop won't print anything but the flat text. Save it as something like a jpg, and the result is an image with flat text. I don't have this happen when I do simpler effects: my current watermark is a bevel and emboss with contour and a drop shadow, and it looks perfect; but when I do the more complicated layering to make the glass effect, the result is as if I had done nothing but put text color on it. In fact, the only way I can even show the effect here is via a screen capture from Photoshop CS5, which looks like this:
It's not a very good rendering of what it looks like in Photoshop, but the screen capture is the only thing I've got.
The layer effects that were enabled for the image you see are inner shadow, outer glow, and bevel and emboss. Several other effects I had already turned off.
Is it the case that some text effects just won't show up? I can't imagine that's the case, since the sites where creating such effects are demonstrated certainly must be exporting the imagery to show it on their sites.
One last curiosity is that, once I've put in all the layers, I can turn them off one by one, and I get no effect, even when I've turned off effects to the point where I basically have my original watermark style, which looks just fine in print and jpg.
Does anyone have an explanation for why this is happening. Is it something I'm doing, or is it really that I can't print or present as jpg images some text effects?
On a techical note, I'm using Photoshop CS5 64-bit in Windows 7 on a very good computer, and my main monitor is not IPS, but it is VA, and is calibrated every two weeks.
Any help in solving my rather frustrating mystery would be most appreciated.

Answer 1

I shall herewith provide as much visual information as possible to help you see the work product and its components.
This is a screen capture of a photograph in which I used the glass effect:
Next is a capture to show the effect more clearly (a published print would have the opacity of the text layer reduced considerably since it looks rather strong at 100%):
Next is what happens to the effect when the psd file is converted to JPG. This is also what it looks like as a print straight-away from Photoshop, and it even looks like this in the Print Preview window of Photoshop:
And finally, below are screen captures of each effect applied to the text layer, followed at the end by the Character set-up:
I do apologize for the extensive graphics in this post, but I am hopeful that this evidence will be sufficient to provide the answer to my inquiry about why the glass text effect declines every effort to show outside of the Photoshop screen.