My problem is the adjustment layer is mucking the whole background up as well as the text.
If i put the text under the BG, it looks faded.
I want the adjustment layer to apply to just the text,
If you only need to affect the appearance of one text layer, you might be able to just apply the effects directly to the text and not use an adjustment layer. If not, then precompose all the text layers you want the effect to apply to, and put an adjustment layer at the top of this precomp.