this old post prety much sums up the request: http://forums.adobe.com/message/3714095
basically looking for a way to "extrude" the edges of an object.
a method i have been using is the Radial Blur, and selecting zoom, and then duplicating the result several times.
It works fairly well for circles, but less so for "shapes"
Windows actually use to kind-of do this when previewing images with transparency:
(a mock-up, as i couldn't create or find a 'real' example of this "glitch")
windows would pull solid pixels from the edge and stretch them horizontally and vertically to fill in the transparent space.
additionally, using the Smudge tool, set to 100 is another "okay" method to achieve this
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