Select layer with color area to be changed, Select –> All, select this color area with the Fuzzy Select Tool, Select –> Invert.

Select layer with text and click text within color area, this should result in selection around text within color area. Make layer with color area invisible.

Click Select –> Selection Editor, set Opacity to 100, Threshold to 80 (normal font weight) or 120 (bold), Fill by to Alpha, and enable Antialiasing. Shrink the selection by 1px in Select –> Shrink.

Select Bucket Fill Tool, choose foreground color, and click on each letter within the color area.

Create selection, for example a circle, then select Selection to path.

Invert the selection if the text needs to follow /\ instead of \/. Select Invert and click next to the path.

Write the text and select Text along path.

Create new layer and select Path to selection. Hide other layers and fill the selection with color.

Text along path

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