Requires Topaz Studio 1.11
Note: These considerations will only apply when you open Studio as a standalone application and attempt to open a PSD file. When using Studio as a plugin to Photoshop, none of these conditions apply. When using Studio as a plugin to Photoshop, you will only be able to edit raster image layers.
It is possible to open PSD files in Topaz Studio. However, you will not have access to layers, adjustments, masks, or other elements created by Photoshop when opening a PSD in Studio. Instead, you will only have access to the composited image itself.
You are required to save your PSD file from Photoshop with the Maximize Compatibility option enabled. You do this by creating a file that would be considered a Photoshop project file, containing masks, adjustment layers, raster layers, or more, and saving that file. The default, unless changed, will be to save your image as a PSD file. When you do this, you will receive a popup message asking if you want to Maximize Compatibility. Enable this option so that Studio can read the file.
If you have checked the Don't show again option or do not see this window when saving your PSD files, you can turn the prompt back on from this location in Photoshop: Preferences > File Handling > File Compatibility
Restrictions and Limitations
When you save your image as instructed above, with the Maximize Compatibility option enabled, you will be adding a stamped version of your image to the PSD file, which is then read by Topaz Studio. As an example, a PSD that has three layers (Color Balance adjustment, duplicate raster layer with mask, and background layer) will be saved with those elements in the PSD file, but the result of those layers will be stamped into an image that is read by Studio. You will not be able to modify masks, adjustment layers, or any data created by Photoshop. You will not be able to save to PSD from Studio, but you can use the Studio Project File (.tsp) format to save the work you do in Studio.
PS Layer Stack