Sounds interesting Wayne, I'd love to hear some more on the how's if you don't mind mate?
file/automate/fit image 600 x 600 (or whatever size you want for web)
Image size untick all boxes and enter 100 dpi (or whatever you want)
Stop action, type in your text and select it (or use path if you have one)
open paths palette and create path from selection, free transform path to top left corner and size it (important)
delete text layer
restart recording action now in actions drop down menu insert path
make new layer
on paths palette make selection from path, hit D to reset default colours, now fill selection with black on new layer (don't do the D bit but choose a colour if you want something other than black or clear) then deselect
go to paths palette and delete path (you don't need it again)
back to layers palette select all then in layers, align layer to center (or where ever you want it) this places the logo in the right place for landscape and portrait format
now if you just want black or the chosen colour you can ajust opacity to suit and flatten, otherwise take the layer fill down to nothing (not opacity) and in layer styles apply a bevel emboss, or drop shadow, outer glow, what ever takes your fancy, then flatten.
I think thats it (but it's from memory, and I'm knackered) hopefully I haven't left a step out, the beauty of using a path is when you size it it keeps it's quality, you could make one first in Illustrater if you have it. Wayne