A special-effects software that can also be used for flexibility and high performance video composition is Wax. Designed to facilitate easy video compositing and effects, Wax can even be used by novice users so that they can make a video effortlessly and effectively.
Having two different modes to work with viz. a standalone application that can be used for beginners and a plug-in version that is more suited to a professional editor, Wax can be used for the creation of stunning 2D & 3D special effects. As of now, these plug-ins are supported by Pure Motion EditStudio, Sony Vegas and Adobe Premiere.