The process wasn't too bad. It was basically creating the "X" pattern and applying a few emboss and bevel filters. Then I defined that as a new pattern. When you load the sprite, the action will create a new layer and fill it with the pattern. Switching the layer to "Screen" allows the colors to show through. Then some automatic magic wand work happens and removes all the non-colored areas from the work and this is the final piece you get!
It took about 40 minutes from start to finish to get this working.