Finally got the time to release this.
Alpha values below the threshold are converted to transparent and above to opaque with a smoothness control.
It's useful to simulate metaballs when applied to a transparent layer and get fluid-like effects. When combined with physics can simulate a pseudo liquid, and with particles can simulate fire.
Threshold: Alpha threshold from 0 to 100. Controls where to put the edge based on the opacity value.
Smoothness: Controls the smoothness of the edge.
Flat Colors: Set to 1 to unpremultiply the colors and make them flat. 0 preserves the black shading caused by premultiply.
<img src="https://dl.dropbox.com/u/7871870/construct/Effects/alpha%20threshold/prr-alpha-threshold.gif" border="0">
Download Demo capx
How to Install
Just drop the two files under your "Construct2/Effects/" folder.