As far as I know, it’s a one way street to AE at this point, since Layer Styles have to be saved as an Animation Preset (.ffx), and this doesn’t import into Photoshop.
Having taken a look at both of these files in a text editor, it’s obvious that the Photoshop layer style is a more complex file, maybe written in programming language, while the .ffx file saved in After Effects is much simpler, almost a text file. So my guess is that the translation engine lives on the AE side, hence it’s a no go in the other direction. I even tried just renaming the .ffx file to .asl, and it didn’t work.
That said, it’s a good one for the features requests.
Joe Bourke
Owner/Creative Director
Bourke Media
http://www.bourkemedia.com