1.Start out with a new document with these settings: 300x300 make backround black
2. Create a new layer
3.on the top layer go to Edit<Fill use these settings:

4. then go to Select<ColorRange

5. With the eye dropper (still in colorrange) and select the white areas on the picture. then press ok
6. Then right click in the selected area and go to layer via copy.
Delete the regular layer with the bubbles(not the copied!)
7. then use the hue/saturation (on copied) window (ctrl+u) use these settings

8. make a new layer and make it black.
9.then create your text layer.

10. Then with your text layer hold ctrl and click( to select it)

11. still with the selection go to the layer right under the text and press Backspace/delete
12. delete your text layer now. after that press ctrl+d
13. then go to the top layer and go to Layer<layer style< Bevel emboss
use these settings:

14. take the layer with the bubbles and move it down till the top of the line is aligned with the text at the top.
15. then select the Image ready button

16. create a new frame

17. on the new frame take the bubble layer and move it up until the bottom of that layer aligns with the bottom of the text.
18. then press the tween button and use these setttings.

19. to save it go to file<save optimized as...
here is my final
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