Include Vector Data grayed out

I have an 8-bit grayscale document with a background layer an a text layer on top of that, when I save as Photoshop EPS I am unable to select *Include Vector Data* as it is grayed out. Initially was in PS7 and went to CS3 still with no luck. It is definitely an editable text layer -- I've tried different fonts as well as converting to CMYK in case it was having issues with it being grayscale, and, I've tried changing to some different fonts all with no joy.

What am I missing?

TIA,

Geoff

Do you have a Faux Bold or Faux Italic style selected in the Type palette?

Oddly enough, if you try to Save as pdf with a Faux it gives you a warning.

That was it. Not sure how it became selected but thanks for the help.