I’ve been playing with Pixel Bender a bit and noticed that there weren’t really any examples (I could find) that illustrated effects being applied to video. So I gathered together a whole slew of kernels from the interweb, downloaded a copy of Dancing Matt and shoehorned them into a media player that allows you to select and apply the effects during video playback.
Instructions: Press the “play” button, then select the effect you’d like to see applied to the video.
The ten thousand dollar question is what’s the value outside of gratuitous eye candy? It seems that in some cases you might want to apply a particular stylistic treatment (wouldn’t it be great if the cartoon effect that ships with After Effects would compile for Flash Player). There’s also the opportunity to animate the filters and create some really killer transition effects–anyone with a media player component or video editing / mashup RIA ought to see the potential there. And that’s just the tip of the iceberg, I’m sure there are far grander ideas being born as I write this.