Andrew Kramer is working on a new plugin called Twitch a plugin for After Effects (aiming to support AE CS3 and AE7). The Plugin allows you to do light flash, scale, jerk, blur, slide and blur your footage. Twitch allows you to combine those effects, of course those kind of effects are possible without the plug-in Twitch, however Twitch makes it a lot more easier for the user to use these effects. Andrew has released a short introduction (Alternate Link).
Update Twitch coverage on StrongMocha: