Something similar, but not exact. The fire is the easy part, but the water may be impossible. The reason is, in that clip the water is "smooth", and you can see the person behind the water. pIllusion doesn't do "smooth" water very well, as that's a job for a fluid simulation/renderer, not a sprite-based particle system.
For the fire, you also won't get as much 3D to it, but you can do it by animating the "zoom" property.