You saw it on Adobe TV, now you can see it in code....
Here is the running demo and source code for the Pulse application seen on the Developer channel of Adobe TV.
Rather than spend time here reiterating on what I said on the video, I'll just refer you to the video to get the motivation for the effect as well as the code walkthrough.
In case you didn't manage to make it to Adobe TV, here's the video presentation for Pulse:
And here's the running demo itself:
And finally, here's the source code. I'm tempted to put snippets of the source code inline and go over them, but I would be basically duplicating what I already did in the video, so watch the video instead.