Effect on test (layer style)

I don't think you can completely match it with Layer Styles because we don't have enough control of the profile.  In Eye Candy 7 you can draw the profile.  You can still get fairly close though

In Bevel & Emboss Smooth works best.  You're trying not have an outer bevel, and Smooth gets you closer to that.

Altitude is important.  You need to go as high as you can get away with before you lose the inner wall.

Note the Highlight wasn't doing anything, so I set it to zero.

OK, the important thing here it the shape of the contor, and to a lesser extent, the range.  The settings are quite finicky.  A little difference makes a big change.

You can get it a bit finer with Eye Candy 7 but there's a problem with both versions, and that's the shading on the outer left edges. That is going to create a dark line when you try to extrude to give it some depth.  You could maybe fake it using a masked stroke, which wouldn't be too hard.