1. Open a new, blank image 600 x 600 pixels transparent image (16 million color depth). File > New > set size & set color depth.
2. Set your foreground to null and your background to any color/gradient or pattern - it won't matter as the filter changes it to solid color!
3. Click on the preset shapes and select elipse, draw a circle that is almost as large as your canvas
4. Convert to raster layer
5. Effects > Plugins > VM Instant Art > Pipeline to Siberia with settings: Pipe Size ~ 100, Tube size ~ 26, Pipe SPeed ~ 163, Tube Speed ~ 143, Packing ~ 137, Red ~ 164, Green ~ 91, Blue ~ 195 (play with these settings to change the color etc)
6. Selections > select all > selections > float > selections > modify > contract by 10. Selections > invert
7.Effects > blur > motion blur with settings: Angle ~ 266, Intensity ~ 25. Deselect
8. Add any accents you wish
9. Open your tube and position as desired, duplicate and hide the copy
10. Effects > Plugins > Eye Candy 4000 > Motion Trail with settings: Direction ~ 58, length ~ 63.49, Taper ~ 100, Overall Opacity ~ 91, smear color ~ UNchecked, Draw only outside selection ~ checked (these settings are variable depending on your tube, the aim is to try and make it look like it's being sucked into the center of the pipeline!)
11. Unhide the copy. You may want to select 2 colors from either your pipeline or your tube and create a gradient with them like I did, highlight your blurred tube, open your font.
12. Resize and position your font as desired, convert to raster layer
13. Add an inner bevel of choice - OPTIONAL --- I used Lokas Aqua Filter with its default settings after the bevel
14. Add your copyright information and your watermark
15. Resize as desired and save as a jpeg
Alternatives
I used Eye Candy 4000 gradient glow on the word art so it would show up more and changed the settings on the motion trail