The explosion was definitely done with Shatter. I wouldn't be surprised if the text extrusion and animation was done using Shatter as well (it would have to have been reversed, of course), but I couldn't say for sure.
Yes, Shatter seems the way to go fgor the explosion. I'm not sure about the text, though. Since it is so graphical and has some textures on it, it may have been done in a 3D program. Regardlesss of this, you could use Shatter just as well. The effect will treat unconnected structures as separate segments and if you e.g. import a vector graphic, it will even do so based on the contours/ groups in the vector elements. Then you could animate the force fields' positions and strengths to push the letters around. Might take some fiddling and time-reverse for the assembly effect, but for a simple text it might work.