There are two ways for selecting the outline of your text. The first is to use ctrl-click (PC: Ctrl-click) on the layer palette to Type Layers. The second way is to go to Select menu and select Load. When the dialog box opens, click OK and create a selection around your text.

When you digitized a Type layer, you no longer have the option to revert back to your text and change the spelling, the number of words, or spaces between words.
But why do so?
If you apply a filter, of any type (from the filter menu), you have to do that. This is why Type layers are different to images layers. …