Text in Photoshop is vector object, so you can scale, rotate, change size, color without losing quality.
There are a number of websites where one can find a Photoshop text tutorial including Smashing Magazine, Hongkiat, Web Design, Photoshop Essentials and Photoshop Lady.
No, Photoshop Elements does not have Contour.
Photoshop have Horizontal Type Tool and Horizontal Type Mask Tool which you can use to type text in Photoshop.
Photoshop claimed that there 50+ best text effects and some of those are Wave's text effects, Glossy Emblem text effects, Spectacular style text effect, Aqua and many more
One can change the font or text color in Photoshop by first clicking the Text tool button. Then when the Text toolbar appears, click the color palette button and select the color wanted.
You can. The icon in the toolbar is a big T.
Wrap option in Photoshop allow you to distort pixel based and vector objects. This option is mainly present in Photoshop for curvature distortions of pixels, text or vector shapes.
This can be down to a number of faults, it's worth troubleshooting on a Photoshop forum, grey text usually means that the button is not accessible to use. Troubleshooting online is the best option. Hope this helps :)
hyperlink
You have to highlight the text you want to increase
text allignment
You have to make a very large image, then choose the text option and set the size to something over 150 for extremely large text