Layer effects are linked to the layer contents. When you move or edit the contents of the layer, the same effects are applied to the modified contents. For example, if you apply a drop shadow to a text layer and then add new text, the shadow is added automatically to the new text.
A layer style is one or more effects applied to a layer or layer group. You can apply one of the preset styles provided with Photoshop or create a custom style using the Layer Style dialog box. The layer effects icon appears to the right of the layer's name in the Layers panel. You can expand the style in the Layers panel to view or edit the effects that compose the style.
From Layer Style dialog which you can access from Layer > Layer Style > choose effect from list. Effects are listed at right side of Layer Style dialog, Style consist from several effects like Drop Shadow, Bevel and Emboss, Satin...
Easy way is to right click on fx which is located on the right side of layer (not fx at bottom of LAYERS panel) and choose Copy Layer Style, then right click on layer where you want to paste style and choose Paste Layer Style.
Layer > Layer Style.
From Layer > Layer Style > Drop Shadow.
You can layer CSS element above HTML easily. It can be done as :<style> #id { ... } </style>
I don't know for this term, generally You can change any Layer style in Photoshop except if this mean style which is created (style consist from several Layer effects) and ready to apply with one click.
Click on layer in LAYERS palette to select it (you can not apply layer style to Background layer) then go to Layer > Layer Style > Bevel and Emboss, adjust settings for bevel then click on Blending Options: Default. Find Fill Opacity slider and drag it to the left to set 0%. Click OK in upper right corner to confirm and exit dialog.
chisel hard
Double click its thumbnail in Layers palette or go to Layer > Layer Style > Color Overlay.
You can access styles from STYLES panel or from Layer Style dialog (fx at bottom of LAYERS panel).
Anchor points which defines shape, fill and in Photoshop you can change Layer Style which is created from layer effects: Drop Shadow, Bevel..
A simple version - Draw a star (on a transparent background and fill the start with white. Go to Layer - Layer style and set the layer style to outer glow , set the size to about 80% and the opacity to 40% The star shape may also be in the default shapes in the tool bar depending on you version of PS