The Version 6 dialog box differs slightly, most noticeably in the font choice display. It also shows you the color choices and is more flexible in that area. Otherwise, it is bascially the same as the Version 5 Text Dialog shown below. I have found that especially with curly fonts, the leading edge of a curl may be flattened in the first letter. To avoid this, put in a space before typing the text and the leading curl will be undamaged.
Cutout Use the precise settings shown in the dialog box screen capture to the right.
Click OK and your results should be similar to the inset below. After completeing the tutorial, try another image and play with the drop shadowing settings as well as the cutout settings for different effects.