Before using the Rounded Rectangle tool make sure that the menu the yellow arrow is pointing to, doesn't say Shape but Paths or something like that - I don't have CS6 and still using CS5 which is slightly different.
You should end up with only one layer, not two. The second layer on top is automatically created if the vector tools are used in Shape layer mode.
I made sure it was set to path. I can't believe it is this difficult to make rounded corners. I have to be missing something
Steps I did:
1- Open image
2- Make a new layer with image
3- Changed Shape to Path
4-Menu > Layer> vector mask > reveal all
4- Created rounded rectangle on the image
I got nothing but a rectangle image. Same image I started with.
Ensure the empty vector mask is targeted before drawing the rounded rectangle. It should have been automatically targeted when added to the layer, but you can target it at any time by clicking its thumbnail to the right of the layer thumbnail in Layers panel.
By the way, Cmd/Ctrl-click on Add Mask button at bottom of Layers panel does the same as Layer > Vector Mask > Reveal All.
That worked. You can see the final product here. http://skeeterz71.com/
I literally spent 2 days trying to figure this out. I'm gonna do it a few more times just to make sure I got it!
Now time to pay attention to the BCS championship game:)