Don't focus on software, focus on workflow and really break it down into pieces. Honestly, it was probably done with a mixture of tools. Here's how I'd do it using either After Effects or Flame.
Shoot the band wearing chroma key green body suits with their instruments against a chroma key blue background or against FLATTLY LIT white. Each approach has pluses and minuses.
Attach tracking marks on each person's face to make it easier to track in the mouths.
Key out the band and fill with black, textures, etc.
Key out the background and fill it with textures.
Track in CG mouths (MAJOR PITA) You could also try cutting mouth holes in the body suits, and doing some wack color correction but the CG route is probably more intersting graphically.
Add overlays to entire scene.
The dripping people look is cool. I'm guessing that it's a mixture of partical systems, lots of roto, and some modulation plugins to ripple the edges.
The short answer is that there is no button in any software package to create that video. Lots of hard work. If I were bidding post on the job, I'd figure 6-7 days in Flame, a couple of days of roto plus pre-pro and set supervision. Even with today's shrinking budgets, it would be hard to do the post for less than $25k-30k… more in larger markets.
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