I have succesfully created a holographic text but i also want to give it a distort effect as seen in the film THE RING (in the word Dreamworks)...as if the transmission is bad(coming and going)...often seen in sci-fi movies...hope u understand...
Red Giant has a plugin for bad tv stuff, you might also look into Twitch from Video Copilot. That sounds exactly like what you want.
Or you could use a combination of various built in distort effects in AE.
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turbulent displace - try setting displacement type: horizontal, decrease the 'size' and animate the evolutions for starters.
roughen edges - try edge type: 'spikey', stretch the width and animate the evolutions.
displacement map - you'll need to create a layer map to use with it, maybe try some sort of animated horizontal lines or stretched out fractal noise for the layer map. to work with the displacement map effect, the layer map will need any effect applied to it in a pre-comp, as any compound effect would.