Hi there, this is a pretty easy step.
You'll use PSP to do this step, just load up your PSD with your layers all visible. Now you'll want to 'export' or 'save as' your art to the .BMP format. This should create a new saved file of your repaint in .BMP format.
From here you can run it through Text-o-Matic to create the final files.
If you need any more details on this, please post back and we'll get you some answers.