You don't need to make duplicate overlapping layers for things like double-strokes... Just add a second stroke effect in the effects dialogue (the little "fx" icon in the lower left), or use an outer glow with a spread of 100%, which looks identical to a stroke.
If you need to get fancier, you can also put your text layer in a folder and apply separate effects to the folder, which makes it easier to tweak things without rasterizing and copying text layers. This can also be a time-saving measure, because you can just define an effect once on a folder and put a bunch of text layers in that folder. So if you need, say, a white outline on a bunch of text layers, just drop them in there.