hi guys! I'm wondering what tools/steps/blending is used to make this happen? the imge is overlayed with color and the text is not. Im sure its super easy but i nee help! 
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I love that book!
Anyway, I am assuming you're using Photoshop, right?
You want the Horizontal Type Mask Tool. It creates type-shaped selections on your background layer.
The trick here is to not have the red showing through the lowered opacity text. Blend modes won't work for you here, so I placed a Hue Saturation layer above the background image set to Colorize (for the red tint). Then added the text layer and set its opacity to 30% (whatever works for you). I ten Ctrl clicked the text layer to load it as a selection, and filled the Hue/Sat's mask with black.
At this point I decided that the text worked better against lighter non-coloured backgrounds, so I threw in a B&W adjustment layer, after which I could drop the text opacity to 10%. You see what I mean? Sometimes you have to experiment to get what you are after.
Hi
I like Trevor's method but I was not keen on having the text in a separate mask which would need to be updated each time the text is edited.
So I did this:
1. I added a gradient map to the color image to get the red black effect.
2. I clipped a black and white adjustment layer to the text and set the blending mode to Liner Dodge (Add) . I also set the blending options of the black and white adjustment to "Knockout =Deep" and the Text layer I unchecked Blend Clipped layers as a group
B&W Adjustment layer:
Text Layer:
3. Finally I added a second B&W layer again clipped to the layer below and with a tint set
This way -the text can be edited without changing the masking
Dave
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