Apply layer FX to multiple selected layers at once. If I create a horizontal menu with each button label as a separate text layer, I want to be able to select all text layers and apply the same Layer FX. Currently the layer FX option greys out when I select more than one layer of any type.
While you can't do it by accessing it via the Layer Style dialog, you can apply an effect to a single layer, then Right/Control + Click on a layer to "Copy Style":
Then select the layers you want to apply to and Right/Control + Click on one of the selected layers to "Paste Style":
Or you can create a new style in the Styles panel and apply the saved style to selected layers.
Things get a little dicey from a UI/usability angle when using the layer style dialog if you have multiple layers selected with different layer fx settings already applied to them. We wouldn't be able to display the current setting(s) so the user wouldn't know where the starting point was for any of the effects.