Here is how you can get around this problem.
Go to Layers > Smart Object > Convert to Smart Object
In this example, after I created a Smart Object, I was able to go to the Filter Gallery and use the text Craquelure creating this nice effect.
What happens is that a separate file built into Photoshop with a .psb extension is used to keep the text information. It's like a file inside a file. After editing the text I can close the text window taking me back to my main Photoshop window for editing.
Here is a video taking you through these steps:
For more information on Smart Objects check my previous blog at:
Now you can add even more special effects to your text without the worries of never being able to edit the text again.