The guys down at www.xonetik.com use a really neat water affect in the beggining of their spinning icon intro.... I am sure if you wrote them an e-mail inquery as to how the affect was achieved they probably would not be to reluctant to write you back and fill you in ..... after all, I have never turned down a request for knowledge. We all like to showcase our skills. Good Luck!
Its not realy a big deal, its just several masks of concentric circles animated as masks to give the look of distortion. If you look at the fla in the movies section called special effects you will find a fla called Reflection Ripples. It has the same principles in it that you need to make this effect. Regards, Bill
In the beginning the web was without shape and color, and the hype covered the darkness of the net. Then there was a Flash and life came to the web and vision became reality.
I remember back in flash pad that they had a discussion on this effect. It was made with some other program than flash. They use adobe illustrator and freehand plus another program to do the actual effect. It is just made frame by frame