Whether it is created with AE is an open question, but it sure is doable. The star blimps can easily be created either using Foam, CC Bubbles and similar tools with a custom shape or good old Fractal Noise with tweaked contrast and effects like Glow (one vertical only, a second horizontla only for a cross), Trapcode Starglow or one of the Sapphire glint tools (didn't you buy them recently?).other shape generators like Card Dance or Shatter would also work. Then you simply animate the fanning out of the streaks by animating a respective parameter in CC Lightburst, Trapcode Shine or again in Sapphire's rays tools. The only trick I see here is to use multiple layers stacked in 3D some distance apart with the camera moving through them to give the motion and the effects also being on each layer separately, not some global adjustment layer, so depth is retained. The rest is quite conventional...
There are a bunch of ways to do this but I like echo for this kind of thing.
I'd try creating your starfield about 50% bigger than your comp with colored or white stars on a transparent background. There are techniques for doing this in Photoshop. You could also use Illustrator and end up with vector graphics.
Then you drop your starfield into an AE comp, scale it down to fit the frame horizontally, duplicate the layer, make the top copy a 3D layer, add a camera. Now animate the Z position of the camera to bring it closer to the 3D starfield and animate the scale of the bottom copy so that you get one set of stars moving at a different rate than the other. This will give you the effect of actually moving through space because of the faux parallax that is created.
Precompose these two layers and then add the Echo effect. To set the number of echos you want to estimate the maximum distance your stars move and divide the number of seconds it takes to complete the move by the number of pixels. IOW, if your stars move about 200 pixels in 2 seconds then your time setting would be -2/200
You can just type that value into the control. Then you want to animate the number of echos from 1 to 200 (one echo per pixel of movement) and set the blend mode and decay rate to taste.
That should do it. I threw together a simple project in CS4 using All AE. You'll get the basic idea. You'll find the project HERE.
Thanks for the project, Rick. I'll look at this morning!
Here's what I came up with last night.
The problem with most light ray creating plug ins is that the beam fades from the starting point. And negative values would make the streaks appear to recede in the distance, not warp past you.
The only plug-in that comes close is DT Prime Hyperdrive. It streaks light in the "proper" direction and doesn't fade.
Mmh, indeed, that's of course an issue. I think, though, with some inversion and matting operations involving a few duplicates one could get a similar result...