if you are talking about a transition where the whole frame starts to ripple, then maybe blurs and resolves to the next sequence? (that's what i can picture from old films)
if so, try creating a dissolve between the two shots. then add an adjustment layer over both clips and add turbulent displace. key frame the displacement and offset properties to time with the dissolve.
if you want to add some blur, try adding fast blur to the adjustment layer, above the turbulent displace effect. use the 'repeat edges' option to get better edges around the frame.