Note: This tip came from a client who was trying to achieve a specific look based on this image:
This effect may be easier to accomplish using layer styles in Photoshop, but here's what I would do if you have to do it in Illustrator...
Now go to EFFECT>STYLIZE>INNER GLOW and a dialogue box will come up. Set the MODE to SCREEN and click on the swatch and change the color to a yellowish color. I had the best luck with the OPACITY set to 75% and the BLUR to 0.04. (Check PREVIEW to see the effect as you are making your adjustments.)
Now copy the text and paste in front. EDIT>COPY then EDIT>PASTE IN FRONT.
Now copy and paste in front again. In the APPEARANCE PALETTE, click and drag the effect icon to the trash can at the bottom of the palette to remove the INNER GLOW.
To create the dark outline, copy and send to the back. EDIT>COPY then OBJECT>ARRANGE>SEND TO BACK.
For the highlight effect, create a starburst or draw your own and the repeat the same steps you used for the text!
From this point, place your background image and use a CLIPPING MASK to fill the type with an image.
NOTES: You can apply this technique around objects you create as well!
If you are sending the artwork to an outside artist or vendor, you will probably want to CREATE OULINES for the fonts. (TYPE>CREATE OUTLINES) and EXPAND the artwork. (OBJECT>EXPAND).
Try to avoid backsaving (saving to a lower version of Illustrator) if possible.
I hope you enjoyed the tip!