1. select a portion then copy.
2.you cannot change the text but you can add effects to them
3.yes but they're not called layer properties they're effects drop shadow is from this pack which is made by krisVDM while glow can be found on effect>photo>glow
4.liquify can be found in this pack which is made by pyrochild
5.i dont think so but there is a way you can do it by: on a new layer draw using your brush what you want to select and the use the magic wand tool to select it.
to install effects a tutorial can be found here which is made by boltbait. more plugins can be found here