The only way to do this will end you up with two separate files just like you're doing right now. You can also take the finished photoshop file in Lightroom. Right (or control) click and select edit in Photoshop and do an edit in Photoshop with Lightroom adjustments. Than add your text layer.
If your text is always the same, you might want to look into the watermarking function in Lightroom.
Thanks, Jao. That is the current way I've been doing this. I wish that there were a better way so as not to have to have two PSD files.
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LR doesn't read the layers made in PS. What you see in LR from either a PSD or TIFF file is a Flatten version of the image file saved inside of the file. With TIFF that is always created and with a PSD it is created with the Max compatibility option turned on. Without Max compatibility turned on in PS LR won't even display a PSD file.
Exactly. I teach LR and show students how they can certainly edit with layers, filters, etc., but only see a flattened image when they're in LR (one can use onOne for a sense of layers in LR, but that defeats the simple design goals in LR and I don't encourage that route). It sounds like the way I've been doing things is the only way, alas. Thanks!