|10 Save the text selection to Alpha Channel (Selections>Save to Alpha Channel) and name the saved selection "Text".
Press [Delete] key twice, then click on Layers>Delete
Load the saved "Text" selection (Selection>Load from Alpha Channel) and choose the Text Selection.
You can apply a Cutout Filter (Image>Effects>Cutout) or Drop Shadow (Image>Effects>Drop Shadow)
Fill Interior Color = NOT Checked
Shadow Color = Black
Opacity = 80
Blur = 5
Vertical and Horizontal Offset = 1
Drop Shadow Filter and Colorize Applied
Image after applying another cutout
Sample image after adding a colorized sphere at the center.
You can later on load the the Outer Ring Selection or the Ring Selection and apply a Colorize effect (Colors>Colorize)