In the layers menu, select Properties. Change the blend mode from Normal to Difference. This gives the basic quilted effect shown. If your shapes or text were antialiased, you may have noticed a jagged black edge around the incised areas. Set the Blend mode to Color.
Most colors work well, but Yellows tend to be a bit murky.
Be sure not to miss any interior areas. I find that using the Spray can set to a large size works well for this. With the blend mode of the second layer set to Difference, you get the quilted effect shown above. Setting the Blend Mode to Burn or Multiply gives an interesting raised effect. As you can see, the effect works equally well with drawn shapes.