Rainbow 1.0.4 for iMovie [ 4 mice from MacWorld ]
Rainbow is like a thresholding tool on steriods.
Create alternating bands of black or white, or the colors of the rainbow.
Achieve a wide variety of effects by adjusting the sharpness of the color transitions, width of the bands and how much the brightness of the original video affects the brightness of the colors.
Free trial version download - wait till you see what it looks like with full-motion video!
Stay tuned for more effects and transition plug-ins in the future.