Set the Text Layer Fill to 0% on the Layers palette.
Then save as a DCS file.
THE END.
You've dropped the Fill to 0%, which allows the background to show through, but still keep the layer styles intact.
Am I correct in understanding that you DON'T want the background to show through? That you want the text to obscure the background? That the text needs to be solid red, but still retain the layer effects?
Okay. If that's the case, forget the Fill trick, crank that puppy back up to 100%. Instead, make your text white, not black while still retaining the layer styles. Keep the spot channel info the same; but make sure the ink solidity is set to 0%.