Photoshop :: CS5 - Duplicate Watermark Effect

I'm using CS5, not that it really matter much for this question.  I've used the same watermark for probably 5 or 6 years now.  All I remember about creating it was that I did it while either reading or watching a tutorial on the subject.  The reason that I love it is because is shows up very well no matter whether it is over a light image or a dark image.  I have long since lost the tutorial and have spent the last day and a half looking at other tutorials with no luck.  None of the ones that I tried work on both light and dark images. 
 
Unfortunately, although I've been editing images for years, I do VERY little text and or font and or font effects work.  That's why I'm a total loss about this thing.  I will be attaching a jpg of my watermark duplicated with one placed on a white background and the other on a black background.  Take note that this is the exact same watermark on both backgrounds.  It isn't one that is special for dark and one that is special for light. 
 
Steps that I need to make in order to duplicate this effect so that it looks exactly like this on both white and black surfaces?  The font is "IMPACT".