I'm talking about Layer Effects (aka "Layer Style") in Photoshop. You know, the stuff like drop shadows, bevel & emboss, etc. that you can apply to other layers. These are not written by Photoshop to the documents it creates as separate layers. In fact, if I recall correctly, they are not included in PSDs in raster form at all, but rather just as a set of parameters.
Specifically, I'm talking about the stuff in this dialog:
I'm guessing most PSD readers don't try to handle these, as the rendering stack needed to support them is pretty complicated.
So, I was suggesting that if an app wanted to be able to include something like these in a document in a way another app could render, they could do so by including rasterized versions. However, to encompass this Photoshop feature, this would be more than just a different rendered version of the (single) layer, but rather one layer would be represented as a stack of layers with raster versions for each of the pieces that can't be rendered together.
Why might this happen? Well, for example, you can have a layer that is in a normal blend mode, has an inner bevel and has a drop shadow that's in Soft Light blend mode. In this case, you could render the inner bevel into the filtered version of the layer, as it's clipped by the pixels of the layer it's attached to, but the drop shadow, being in a different blend mode, couldn't be rendered into the layer in a way that wouldn't change the appearance of the document.
Make sense?
_troy