Sliced
Slice your text in two with layer masks.
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| STEP 1 |
Start with your text.

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| STEP 2 |
Select the lower half the image with the Rectangular Marquee Tool (M) then add a layer mask, either from the layer's window (pictured) or via the layers menu (Layers>Add Layer Mask).

The text layer should now only display half of the text.

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| STEP 3 |
Duplicate the text layer, then click on the layer mask thumbnail. Invert the image mask with Ctrl-I, or Layer>Adjustments>Invert.

The text should now appear as it did originally, but now its two layers.
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| STEP 4 |
Transform the layers as you desire. I took the top layer and rotated it by 2 degrees, the bottom by 1 degree. To transform the layer, select the layer from the layer menu then hit Ctrl-T (or Layer>Transform>Rotate).

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| STEP 5 |
| For my image I added a skewed gradient to the background to emphasize the slice. |
And there you have it, the final version.

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