Someone needs to nag Zane to answer the questions lol. The only thing I remember asking him was that it doesn't ring out but thanks Tan, I guess it rings out when you're at the eeedge xD
I was doing this in practice mode the other day :0 I was trying to ring out a char, but that only works (unfortunately) when you're practically standing on the edge, but it does look cool.
Zane discovered this one and performed it on me lol. According to him, if you can time the hold on 66A+B, 4A+B, and the time when the hit connects to the opponent (he says its hits their legs), the person will fly hard and far (than normal), and that blurry effect will be achieved (>^_^)
Edit: What Zane said, play it in full screen to see the blur effect a little clearer lol.