There are three groupings of settings:

Bevel & Emboss

Contour

Texture

Bevel & Emboss

Bevel & Emboss options are broken up into the categories Structure and Shading.

Structure

Style

Inner/Outer Bevel – applies the bevel to the inside or outside of the text.

Emboss – applies the bevel to both the inside and the outside of the text.

Pillow Emboss – applies the bevel to both the inside and the outside of the text, but in opposite
directions from the regular ‘Emboss’ setting.

Stroke Emboss – applies the bevel only to the stroke (this only works if you have a stroke effect applied
to the text).

Technique

Smooth – creates a smooth, rounded edge.

Chisel Hard – creates a hard, chiseled edge.

Chisel Soft – creates a rough, chiseled edge.

Depth

Increases the three-dimensional depth. A higher value creates a larger amount of depth.

Direction

Specifies whether the bevel & emboss should be extruded toward or away from you.

Size

Specifies the overall size of the bevel & emboss on your text. A smaller number will limit the
bevel/emboss to slower to the edges of the text, whereas a larger number covers more of the text.
Soften

Specifies how soft the edges should be.

Shading

Angle

Specifies the horizontal position of the artificial light source.

Altitude

Specifies the vertical position of the artificial light source.

Gloss Contour

Allows you to create glass and metallic effects.

Highlight Mode

Specifies the blend mode for your highlights, as well as the highlight color and opacity.

Shadow Mode

Specifies the blend mode for the shadows, as well as the shadow color and opacity.

Contour

Contour allows you to specify the shape of your bevel.

Contour

Specifies the shape of the bevel.

Anti-aliasing

Smooths the contour.

Range

The range percentage modifies how much of the bevel the contour should apply to.

In this example, every setting is the same except for the contour shape.

Texture
Texture allows you to add a texture to your text.

Pattern

Select a texture pattern to apply to the text.

Scale

Increase or decrease the size of the pattern.

Depth

Adjust the three-dimensional depth.

Invert

Check this box to invert the pattern.

Link with Layer

Lock the pattern to your text layer so if you later move your layer, the pattern will move with it.

In this example, every setting is the same except for the texture.