This video was originally made by Joey Slikk.
Original Description by Joey Slikk:
This is something I've made to compare the Hue, Cycles Entire Color Spectrum effect in Windows Movie Maker, and the effect I recreated using Sony Vegas.
How I recreated the Hue, Cycles Entire Color Spectrum effect using Sony Vegas:
1. I dragged the default preset of the B&W effect to the video track
2. Added another track above the other video track
3. I made a background changing color animation
4. Added the background changing color animation on the track above the other video track
5. Set the compositing mode to Overlay
6. Made the video track under the other track a compositing child