I'd like to create a 5px wide outline for some text in Photoshop, with one caveat: if I change the font of the original text, or the exact wording, the outline must change too. I'd like to style this outline using all the conventional features of Blending Options. This includes things like emboss, outer glow, etc.
Is this at all possible in Photoshop? I know how to do this to create a "permanent" outline, so no need to explain that - I just wonder if I can set up the layers in such a way that the font is not "set in stone".
Perhaps this isn't quite what Photoshop is designed for - which software would you recommend that better captures the "history of features" paradigm, where I can go back and change the decisions made at the very start of the design?