Thank you for considering Aspose APIs.
Aspose.Imaging for Java API supports reading & writing PSD files, Unfortunately, the other part of your inquiry (Manipulating Textual Layers) cannot be achieved yet. We already have this feature on our road map of Aspose.Imaging APIs, and we hope to publish it in the 1st quarter of 2015. We have attached an appropriate ticket (IMAGING-34419) from our database to this ticket so that you could be notified once the required feature is available for public use.
Here is the code snippet to read PSD file.
PsdImage image = (PsdImage)Image.load(myDir + “sample.psd”);
Here is how you can save any image to PSD format.
PsdOptions psdOptions = new PsdOptions();
image.save(myDir + "output.psd", psdOptions);
We have amended the Aspose.Imaging for Java product page to include the information that the API is capable of both reading & writing PSD files.