I need to match the effects (as close as possible) to the footage below. There seems to be a polarise type thing going on and a still image that appears and has had the background colour removed from it. How do you remove the colour from a 'cut out' still image?
Duplicate the image, stack the two versions in the timeline. Alter the one below, then your effect is a dissolve or keyframed change in opacity on the top track, to reveal the track below. Make the alterations in photoshop first.