Windows Movie Maker has some pretty cool text effects. One of them is a layered effect for titles. Here is basically the same thing in Sony Vegas.
I wasn't 100% sure if it was Furyp (I should have been saying Fury P)that requested this tutorial and I appoligize for not remembering who actually did. Regardless, this is dedicated to furyp and all the great questions out there about Vegas and editing.
Note: This wasn't the easiest of videos to make because most of the work took place in a small area of the screen. Hopefully the zooms will make it easier to see how it is done but I realize the drawback is not getting to see the entire workspace.
If you want the whistle intro you can download it here: