The effect is also easy to apply in Interface Builder. Fire up IB and add a dark text label to a non-white background.
Select the label and change the shadow to a white color. Then change the V. Offset setting to positive 1. This will position a white “shadow” one pixel below the text making it appear as though light is glaring off the lower edges of the text border and creating the illusion that the text is embedded into the background.
Embossed Text Effect