Check out this tutorial on how to do that with Sass: http://css-tricks.com/metafizzy-effect-with-sass/
and take a look at this CodePen with the full result: http://codepen.io/hugo/pen/nwivF
Your example above is pretty much the only way to do it with pure CSS, and while it does look pretty crazy – it will let you adjust those text-shadows using transitions and such.