Is this a trick question? You know, he's providing the project for download right beneath the video...
No it's not, and I probably gonna buy it.
But I was hoping someone could give me a little bit of a start how to animate such shape effects.
The technique is revealed at 6 seconds in the video:
The liquid elements are simply footage elements that can be used as track mattes. There are a million ways to create liquid looking elements. You can film liquid, like paint or ink being pored or splashed on poster board and then process that footage into a high contrast matte. You could create inside After Effects using shape layers and distortion effects. The trick used in creating the transition at :14 is simply a track matte applied to a layer that was probably a pre-comp or nested comp of the type and shape elements.
If you want to create your own, take your smart phone and a sheet of paper and some ink and film something that looks like this by dropping ink on the paper: I just filled a glass with water and dropped two drops of ink in it with a sheet of paper behind it and got this:
A mask, a solid that matches the color of the background, and an adjustment layer using curves gives me this.
You could add Invert, then shift channels picking alpha from luminance, then invert again to create an alpha channel or I could just nest the comp and use it as a luma matte to create a transition. A better option would be to render this comp as footage, save it in your library so you could use it in other projects, or do as the guy that created the videohive project you are looking at did, sell the clips to others.
From start to Finnish it took me about 10 minutes to shoot this video in the back yard with my iPhone, air drop it to the desktop, create the comp and set up the project to get the results shown here:
If I had taken an additional couple of minutes to set the phone up on a tripod and taken a little time to get the focus better I could have sold the rendered clip as stock footage. I think this looks really cool. It opens up lots of possibilities.
Very well explained and a good solution.
The turbulent displace also gives a good result, probably not as good as the real drops, but it's ok.
Step1: Create a shape layer with an elipse. That elipse should be bigger than comp size, so that it is totally filling the screen.
Step2: Add an extra elipse within the shape layer.
Step3: Add a Merge paths.
Step4: Animate each elipse so that the inner elipse is growing outside.