It's not an effect per se, and it's done in Xara Xtreme. It's a very simple (fast) animation that switches between different versions of the Image.
(1) Original. (2) B & W. (3) Saturated. (4) Mellow.
Hey, this thread is fun. Clearly there are many different ways to treat two simple shapes. Thanks for the challenge idea, geminiguy.
Risto
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