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Layer Styles are only supported as of CS3. Any version before will flatten the layers. I don't know Fireworks that well, but I also believe some of the styles and fills work differently and are already flattened in the Photoshop file, which would be another show stopper. So unless you can find a way to "cleanly" recreate the look in PS alone and use CS3, this is a no go, methinks.
Mylenium is right. Fireworks text layers are flaky at best in Photoshop and After Effects. You can import your FW text layer into either, but you'll need to pretty much recreate it from scratch anyway. The easier option is to work directly with AE or PS.
Thanks for help you guys. You've saved me a lot time and frustration. I will write down the text style configurations from Fireworks and attempt to recreate them in PS CS3, then import it into AE CS3