VideoEffects is a video editing tool that comes with over 400 different visual effects. It can use a video file as a source, or alternatively, it can work with your web camera or a picture. The main window shows the source on the left, and, next to it, a preview of what it will look like after an effect has been applied. In case of videos, the effects are applied in real-time.
At the bottom of the screen, you will find all the available effects, divided into pages. You can either scroll through them using the Prev and Next buttons, or type the number of the page you want to go to. Each effect has its name under a snapshot. When you click on one, it will be applied to the source material. Most effects have options that you can change. For example, the False Color effect, which lets you change the main colors of the video, lets you choose which colors you want to use from a palette.
In terms of performance, VideoEffects does very well. It took roughly 1 second to convert 1 second of video during my testing, which isn't bad at all. I used MPEG-4 for the codec and left the quality settings unchanged. The clip played just fine on QuickTime and it was very smooth.
The Lite version only comes with 40 effects, while the full version comes with 400 hundred.