
CandyFace
Ohh an interesting technique which i haven't heard of before, but looking at the demos clearly shows that it is possible to do some amazing things. It would be very cool to see such feature in PE indeed, but it seems to be a pretty advance technique though. Never the less +1 should it ever find its way to the TODO list.
The guy also released his engine as Open Source it seems, that would be a valuable thing to note too.
http://www.effectgames.com/effect/article.psp.html/joe/Old_School_Color_Cycling_with_HTML5