It looks to me to be a couple of layers with Knoll Lens Flare, over (and at least one in Additive mode) a few layers of distorted noise. The distorted noise layers (could also be Particular effects) are the sort of smoky, feathery layers which are lit by the lens flares.
I'm thinking Particular may be making the smoky looking part, since they're moving toward the camera in 3D space. Of course this can also be done with multiple layers moving in Z space toward the camera. It could also be done with Particle Illusion, or even one of the After Effects particle systems that come with AE, with a distortion setting on it. Another possibility for the smoky curves would be Sinedots, a free plugin by talented effects programmer Phillip-Spoeth that can be found at: