Creative Cow has the press release on this new defocus tool that works with Noise Industries FX Factory.

Some Features are

• Chroma Aberration – Editors can simulate chroma aberration – the imbalance of RGB color channels that can occur with camera lenses.
  
• Fast Defocus – This effect can be used to simulate ‘bokeh,’ or out-of-focus lens effects. Editors can create depth of field with the use of a depth mask, rack-focus effects, and more.
  
• Pan / Tilt – A popular effect used in many motion pictures and music videos, users can create a tilt-shift setup for still and motion picture cameras, with smooth, defocused gradients.
  
• Vignette Vision – With two effects options, editors can defocus either the outer edge or the center of the image. Defocusing the outer edge simulates POV shots, vintage lenses and more. Defocusing the center of the image allows editors to censor images, create hallucinations, etc.

You can read all about it at Noise Industries Site.

Tags: Final Cut Pro 7, Final Cut Pro X, After Effects, Motion