This script applies any number of currently-selected Adjustment Layers to the appropriate layers below them in your Photoshop layer stack.
It works with nested layer groups, clipping masks, and layer masks.
You can choose whether or not it applies your Adjustment Layers to hidden layers and locked layers. You can also choose whether it applies to Smart Objects, Text layers, Shapes, and 3D Layers (these will be rasterized.)
Note: If you use a lot of layers with non-normal blending modes (Overlay, etc.), you can choose whether your Adjustment Layers are applied to those layers or not - but either way your results may not be 1:1.
HOW TO USE:
In Photoshop, select the Adjustment Layer(s) you want to apply, and then go to File > Scripts > Browse and navigate to this script file. If you want to speed this up, you can copy this script file to [Photoshop Installation Directory]/Presets/Scripts and it will show up in the File > Scripts menu once you restart Photoshop.