I can't find the original post and dont know who the creator of the tutorial was. I'm putting this here in the hope, either they will see it, or someone will pass this on.

This bit of the tutorial about using the cut out method. I tried both ways and they don't work for me with photoshop.

# With the Alpha channel selected, hit ALT + Delete (this should make a basic cut-out of your new base texture design). If ALT + Delete doesn't work, try CTRL + Delete

I did try the alt button that says ALT-GR (on the right hand side of my keyboard) with delete and it did work. Just thought it could be added as a third option for people.