Np! I've used this for some time now, I find it works well with images that have a lot happening in them.
Easiest way to make them (I think), is to create a new layer, put the type in it, give it some color, put in the type, then select the colored layer with your magic wand, make sure to catch the inside of the letters (e's and a's), select inverse, and hit delete.
Then play with the opacity of the overlay until you like what you got.
If you want the type to intrude as little as possible, you can put it below the contours of the ship - but I find the overlay stands out nicer if you actually "overlay" (
) it, which is why I'm letting it run just over the rifter in this case.