You can convert layer effects to actual layers by choosing Layer > Layer Styles > Create Layers. Not all effects can be reproduced as layers so you will see a warning box. If you only want to create layers from some of the effects, make a duplicate of the layer, hide the effects you do not want, then create layers.
Related Resources:
• Free Layer Styles
• Layer Style Effects Tips & Tutorials
• Working With Layers
Compatibility: Photoshop 6 and higher
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