How to create a smudge text effect with color like this?

[kristerl66006704]

Hi,

Does anyone know how to create this smudge color discoloration on the text like this image? I've tried a lot of stuff but can't seem to figure it out.

[c.pfaffenbichler]

Some Smart Objects copies with various Filters (Minimum, Gaussian Blur, …) and Layer Masks could be used.