I have candy canes on the brain, so I thought I'd give this tutorial another play using a different font. I think the stripe pattern shows nicely in this chunky font, Cooper Black.
For the stroke I opted for a solid color #C0191D (rather than using a gradient), stroke=1.5, blend mode=multiply.
On a layer above the red stroke layer, I added another stroke layer (stroke=1.0) using the pattern. I also set the blend mode of this layer to multiply. This extra stroke layer adds just a bit more depth of color variation to the outline.
I glassed the text as per the tutorial. Then I duplicated the layer and set the blend mode to hard light for a brighter look.
I added noise (gaussian, 50, mono) to the lower text layer (not the hard light layer) on the light pink and light green sections of the text. To select the text, I used the Magic Wand Tool (add, RGB, tolerance=0, feather=0, anti-alias checked, outside). I selected the text before applying the coconutice preset and then saved the selection in an alpha channel to use after my text was glassed.
I added a drop shadow (3,3,25,5,black).
The optimization settings I used are median cut and error diffusion.