God rays, visor reflections / water drops, lens flares, depth of field, night & thermal vision scopes, rainbows, dynamic wet surfaces with reflections, and many other effects. BETA UPCOMING!
Another in-game movie showing the effects I'm working on for Dynamic Shaders 2.0.
This one demonstrates the "dynamic rainbows" feature where both intensity and shape of the rendered rainbow are dynamically calculated by various environment factors.
As always, users will be able to adjust this feature to their personal favor (or, turn it off completely if desired).