mpeg4? I know, the creator used a weird fileextension, hehe. However it plays back fine with mPlayer. Try that (mplayer for win32 if you have Windows).
Well what I do like about this is that the whole desktop comes alive somehow. It's no longer that dead 2d desktop anymore. And not just that... I think It's possible to achieve true transparency without support in the drivers for xcompmgr like ATI.
However I just checked the howto and It seems that you need modular X.org (7.0) so the process of installing this sucker will be pretty big.