Thanks for the tip, Walter, I almost managed to do it…
I tried the adjustment layer method, here’s what I did:

I created a text layer and droped bellow the adjustment layer for the blurs, hues, etc. Then I duplicated this layer and droped it above the adjustment layer. But the distorted text is moving with the upper text layer, and I want it to stay still.
What should I do? I tried the Optical Flares method but it was to laggy for my computer.