Back in 2006, when I was a real noob coding wise (now I'm just below average), I did this plasma effect with AS2.

3 years later, in 2009, the effect with
flash 10 looks like this.
Get the sources here. (It's VERY simple)
Thanks to
Steve Ferrigno for indirectly pushing myself on coding the effect with
Pixel Bender just by asking for the .fla of the 2006 effect :)