Step 1
Open a new document and fill with a black background, and set invisible by clicking the eye. Type some text like above.
Step 2
Duplicate your text layer (CTRL+J). Double click the layer and use the above outer glow settigns. Select a light blue of your choice.
Step 3
Still on your duplicated layer, use the above Inner Glow Settings.
Step 4
On your origional text layer, use the above outer glow settings. Your layer setting should look similar to this. Create a new layer and bring to front. Set the blending mode to color dodge and render clounds. Adjust the brightness/contrast to the above settings (I suggest you experiment).
Final Product
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