I created the first vector and relief round because the bitmap was that shape, but I squished it a bit to make it an oval. I then created a 1/2″ tall flat relief using the lettering outline.
Then using the oval vector (offset from the primary relief) I modified the lettering outline relief using the dome tool.
Then I modified the oval base relief using the lettering vectors. This effectively pushed the letters (with the wood grain) up through the smooth lettering outline.
The last step was to merge (highest) the two reliefs.