I have PhotoShop 7, but have only used it a couple of times since getting it some time ago.  I cannot recall how to make words with the background as an alpha channel so that I can use it as a texture on a flat square prop in Poser and only the text shows up and the background scene that I apply it over shows through when I apply the sguare to a scene, (if that explanation made any sense at all).

So you want Alpha channel of your text layer for use in Poser. OK, first select type tool and write something. When you want to stop press CTRL+ENTER, next press CTRL+LeftMouseClick on text layer and the text will be automaticaly selected. Switch to channels palette and click on "save selection as channel" icon on the bottom of the palette (second from the left). Voila you have created perfect Alpha channel, flatten the image and save :)

Tihomir