Though I have no idea what y'all are talking about (explanations welcome, of course), I'm definitely looking forward to seeing it.
Outer Glow - Essentially it add's colour to the exterior of the selection that is faded out over a distance defined by the user. Instead of using just one colour for this, I created a Gradiant (which is a row of different colours that blend and fade into one another at points that I define) and used that for the colour. I also added a little noise (distortion that breaks up the smooth blending).
Inner Glow - This is essentially the same thing as an outer glow, except it works for the inside of the selection. All I did with this is crank up the size, and add a lot of noise so that it filled the entire interior of the logo, and the noise essentially just broke it up and gave it a faded look.
Hope this helps. I'm just self taught, so don't expect too much in the way of explanations. I pretty much know how it works, just not how to describe it. lol.