I don't have version 6, so I'm not sure if this will work for you. But in Photoshop CS, you can write text on a layer with the 'text' tool and then by applying 'blending options' to that layer and choosing 'Stroke' you can add an outline at whatever thickness you like. There may be an easier way to do this, but to make the letters transparent, I would use the magic wand tool to select the inner block of colour and delete it. Or if you didn't mind a solid colour for the text, you could just make the text the same as the background colour.
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