Here's my attempt at this challenge.
1. Filled the text with a seamless tile.
2.The Text and Flat Fill with 20% Black.
3. Bevel flat fill with chisel and convert to edible shape.
4. Ungroup beveled shape and fill center with 100% black.
5. Blue-black center to back and stretch to the right and down to create shadow.
6. Create three rectangles are layered in the back at 20% gray.
7. Fill center rectangle with seamless tile and create 20% gray circles to cover half circles on edge.
8. Bevel outer rectangle and create additional 100% black rectangle on top with linear transparency for highlighted colors.
I attached the seamless tile that I created for others to use in some other projects.
Enjoy,
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