I've seen the coolest effect on the MSNBC homepage. Near the top of the page in a seperate section, the page offers 5 or 6 news headline links. Briefly when the page first opens, a blue highlighter blue floats down over each link one-by-one.
I have tried saving the page and loading into 1stPage 2000 to isolate the code but without luck. I thought I might have seen a similar effect on dynamicdrive but can't find it now.