I was thinking that ICE could be used to do 3D video stabilization using a mesh warp as described in the Siggraph 09 paper.

We cannot yet access clips on a pixel level with ICE (it's coming though, right? Right?). But we can map the video onto a dense grid or even use particles. So as I was playing around with this I made a silly transition effect using lots of spheres.

This is more of a byproduct than anything, but I thought I'd share anyway. A simple transition would obviously be rendered as a grayscale effect, which would then serve as a matte in the video editor. However, I rendered colored spheres (way cooler, I swear).