Stylism is a powerful interactive plugin from Astute Graphics and it can be used to create amazing type effects in seconds using a variety of settings. The video mentions about copying the lorem text from Photoshop, you no longer need to do this.
The tool can be used with paths and shapes etc but also with live text that can be edited at any point. You can add an offset and also use the panel to edit the value as well as the interactive controls to tweak the size of the offset etc. You can also apply transforms as well as drop shadows and much more to the text to create truly weird and wonderful designs that are live and can be edited in seconds via the panel. You can also add multiple entries to the type so you can have two drop shadows etc as well as interactively changing them.
Of course, as this is a plugin and uses the resources of the application as an appearance, you can use the appearance panel to manipulate it further and also the result of the work can be saved to the graphic styles panel for future work.
The text can also be rasterized via the layer menu as well as copied and pasted into Photoshop for further manipulation of the typeface designs. This plugin works with any typeface so literally billions of great designs can be added by using this powerful panel in the application of CC PC or MAC