Flyout the Interactive Blend tool (4th tool from the bottom). 4th tool in the flyout is the Interactive Blend Tool. Click on the text, and drag the tool in the direction you want the text. You can apply the presets at the top if you know exactly the look you are going for. The sliders on the dashed line that come out of the text towards the drop shadow control intensity and opacity, or they can be set manually in the options at the top.
Hope this helps - Let us know if there are more specifics
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