Text / Logo (2)

To produce the effect as shown below, I basically follow, to the most part, the guidance from gilberto@artmaster, except for some adjustment related to the current GIMP version.










Steps

1. Use the text tool to add some text; name it "layer1"
   
2. Duplicate "layer1"; add a new white layer below this; merge both layers; name it "layer2"; apply [Filters]-->[Blur]-->[Gaussian Blur] (15 x 15)
3. Create a grey layer (#989898); name it "layer3" then [Filters]-->[Map]-->[Bump Map] (bumpmap=layer2; invert bumpmap; depth 7 ); select the "Three_bar_sin" gradient; continue with [Colors]-->[Map]-->[Gradient Map]
4. Activate the gradient tool; create a new layer and fill it with the "horizon 2" gradient; name it "layer4"; apply [Filters]-->[Map]-->[Displace] (x disp. and y disp. 20 "layer2" wrap)
5. On "layer1" select "alpha to selection" then [Select]-->[Grow] (5 pixels) and [Select]-->[Invert]
6. Select "layer3" then [Edit]-->[Clear]
7. Select "layer4" then [Edit]-->[Clear]
8. Make sure that "layer3" is at the top of "layer4"; set the mode of "layer3" to "Overlay"
   

An improvement is possible at step 5: select the text object after a light blur.

Credits
wingimp.org (gilberto@artmaster.com.br)

Note
GIMP 2.4.6