We'll make a little feature of the "VS" Text by putting it in a circular flash that breaks out of the rectangles. Use the Ellipse Tool (located behind the Rectangle Tool) set to Shape Layers to draw a colored circle. Use the same red as you did for the rectangles in Step 6. Command-click on the "CIRCLE" Layer thumbnail to create a selection and go to Select > Modify > Expand. Expand this by 20 pixels or so.