In this tutorial I will show you how to add a transparent feel to your text. First we need a nice background image, I just took some abstract stock that I found. You can use whatever you like.

Next take your text took and write your title. The color wont matter, as we will be hiding the text in steps to come.

Next we are going to add a emboss filter. In your properties tab, click on the + sign to bring up the filters menu. Choose Bevel and Emboss > Raised Emboss.

Here you can adjust the size of your emboss, which in turn will dictate the size of your transparency. The first dropdown menu adjusts the size, the second adjusts the opacity, the third adjusts the softness, and the forth adjusts the angle of light. You can use the settings I have below, or come up with your own.
Next click the "show object" box to hide your text.

You will see that after hiding the text, all that is left is the white and black emboss overlays. This create a nice raised feel, without any body for the text. In turn, we have created some transparent text! Here is how mine turned out.