Ah, now isn’t this clever: Via a Web interface, you can mouse over PSDs you’ve synced with the LayerVault service, then copy text objects it contains. Check it out:

They write,

Enabling the type tool will allow you to click any text in a PSD and copy it to your clipboard. You’ll be able to use the Type Tool with some older PSDs and any PSD you work on going forward.

[Vimeo]