1973 Raleigh Superbe, 2006 Trek 4300 with no original parts, 1984 Ciocc, Custom Keith Anderson
One way would be to make two layers. Actually make the text twice in each color, then use the promote and demote layer to make one color go behind the logo and the other go on top. Then just line them up where they cross over so it looks like it's changing half way. You might have to use the lasso tool to draw out areas and promote them to layers.
My photoshop skills are also minimal. I mostly just retouch photos, but this is how I've done similar things.
Originally Posted by TechKnowGN
San Jose has to be the most boring place I've ever been. And I live in Ohio.
1. Select the letters only (Wand Tool or if the letters are on a transparent background, hold the Ctrl key done while clicking on the tiny image in the Layers window)
2. Click on top color square in the toolbox and select your first color
3. Hold the Alt and Delete keys down at the same time (it should fill the letters with color 1)
4. Select the Selection Tool (dashed rectangle) in the Toolbox
5. While holding the Alt key down, deselect the half you want to keep color 1 (the Alt key makes it a subtraction process)
6. Click on top color square in the toolbox and select your second color
7. Hold the Alt and Delete keys down at the same time (it should fill half of the letters with color 2)