It's available in Post-Processing FX, it's the FX_DisplaceMap effect with an object doing it, and you can check out the example in the .yyz project. I hope this helps :)
Oh yeah thanks I found it, got it working! The only issue I've run into is that narrow sections at the left and top edges of the screen have a stretched out look but I can't figure out why? Sort of like something is off center?