[Rob Hebert]

Even though this thread is 2 years old and you probably have already moved on from this project, I found out how to do this. I was having the same problem with having text in AE and not being able to export it out so the PS could see the alpha channel. Here’s what I did to fix it:

1) Have image or text how you want it
2) Add a new solid below everything
3) Composition > Save Frame As > Photoshop Layers
4) Render

I then opened the PSD file in PS and deleted the solid layer. Hope this helps in the future.