Well I don't know what effects you can do in Premier, but you can use Wax as a plugin to Premier. Using it as a plugin you can use the built in and DirectX FX effects and also access Photoshop plugins (course I don't no that you can't already do that now). Its the WinMorph program that I doubt Premier (and perhaps even AfterEffects) has anything similar to. DL it (around 3mb), as it has several Flash demos of what it will do.