I actually just figured out another approach. Try using the shatter effect. Since it has 3D properties built in. I am using a spinning letter and that seems to have worked pretty well so far.
Do you have any suggestions for how to approach, creating the masks? Is doing it by hand with the Pen-tool best or is creating the masks from text option better. Also what about using a shape layer to fill the mask? Or am I over complicating things?
Wow, thanks for the assist. The effect looks so much better now. I feel silly for not seeing it sooner. Now it seems like it should have been obvious, LOL, oh well.