Here is the idea:
Want to show the movie as if it was projected onto some sort of paper (texture). Here is the original:
We love to use Texture Blending for stills a lot:
The final movie was rendered in Photoshop CS4 Extended using a new script I created (may sell it). The script calls arbitrary actions in CS4 Extended that you can define for each frame. This is not very fast but extremely powerful.
Likely After Effects can do even more but I know CS4 very well and have now many new options.