Create a new flash document, choose Modify > Document and set width to 300 and Height to 200px. Frame rate set to 14 fps (Frames per Second). For Background color set this color: #C51608.
Step 2
Take the Text Tool (T), under Fill Color set white color and type something. For this example I'm wrote flashvault.net :).

Step 3
Press Ctrl+A key and after that F8 key (Convert to Symbol) to convert the text into a Movie Clip.

Step 4
Double click on a new made Movie Clip (text), or choose right click and Edit in Place.
Step 5
Then, insert a new layer (layer 2), and using drag and drop technique, move that layer beneath the layer 1.

Step 6
Select the layer 1, click on frame 100 and press F5.
Step 7
Lock layer 1, select the layer 2, take the Brush Tool (B), under Fill Color set white color and draw the "Shape" like it is shown on the picture below.

Step 8
While your "Shape" is still selected, press F8 on the keyboard (Convert to Symbol) and convert it into a Movie Clip.

Step 9
After that, open the Properties Panel (Ctrl+F3), Click on Filters > plus icon and choose Blur. Then, set the options from the picture below.

Now, you get this:

Step 10
Click on Properties, under Color choose Alpha and set it to 92%.
Step 11
Take the Oval Tool (O), Fill color must be switched off, under Stroke color choose white, under Stroke height in Properties Panel set 3px and draw a few circle like it is shown on the picture below.

Step 12
Select the layer 2, and press again F8 on the keyboard (Convert to Symbol), to convert the whole "Shape" into a Graphic. Look at the picture below.

Step 13
Click on frame 100 and press F6. After that, click on frame 50 and press F6 (Keyframe). Then, set your "Shape" on the position like it is shown on the picture below.

Step 14
Select the layer 2, and in Properties Panel under Tween choose Motion.
Step 15
Select the layer 1 and choose right click and select mask to turn the layer 1 into a mask. See the picture below.

Test your Movie (Ctrl+Enter).
We're done!
Cheers!
Download source file (.fla)
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