First I duplicated the layer then I used the magnetic lasso tool to select out the letters, holding the shift key after the first one to add the rest. Then gave it a feathered edge of 2 px, then selected the inverse and deleted the rest the image. Deselected and set the layer to screen at about 17% opacity. You could probably add some texture to simulate the v stippling with some brush strokes like crosshatch or something. Hope this helps. Doug