I found this tutorial and it says After Effects users can perform a similar effect like Animatte. I have tried to follow along, however the screenshots are from AVID so it lost me. Was wondering if somebody could shed some light on creating this particular effect using AE 6.5 instead of Avid Animatte. Thanks for any help.
creating a custom Transition in After Affects
http://forums.creativecow.net/cgi-bin/new_page_wrapper.cgi?forumid=1&page=http://www.creativecow.net/articles/hester_grinner/animatte/index.html
Transition Clip demo
http://www.creativecow.net/articles/hester_grinner/animatte/animatte.mov
creating a custom Transition in After Affects
http://forums.creativecow.net/cgi-bin/new_page_wrapper.cgi?forumid=1&page=http://www.creativecow.net/articles/hester_grinner/animatte/index.html
Transition Clip demo
http://www.creativecow.net/articles/hester_grinner/animatte/animatte.mov