The blue in the background looks much like a scaled "plasma" effect so that you only get a couple of waves/bubbles on the screen. Google "old school plasma demo" & you might get some ideas there,
If I'm looking at the thing you intend, and as for actually doing in a shader, it'd be fairly easy applied to a quad that filled the rear clip plane.
Best,
Byron
..shaders make you feel... powerful, or very very stupid.
http://drjbn.spaces.live.com/