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Bruce is correct. I do not think they “projected” a video onto of them. They would create more issues.
This is easy but very time consuming.
On an NLE, set it to display 3 video tracks. Remember (in mine) the lower video tracks are the top, you are layering them ON TOP of each other, so build from the back layer up. As Bruce stated the layers you want transparent need to have the opacity set to what works for you, a value of 0-99% about 70% will give you the feel you may be looking for.
The two ovals are most likely a PNG photo with a strobe effect added. NLE’s are great, I have 17 lines to work with, and each line and each property has its own values, but keep in mind you are talking about extreme advance settings, this is noting default and there is NO built in effect to “just do it” this requires serious work and time. and you will have to build/view/play/fix/build/view/play/fix….over and over until the feel is captured. Plan on some butt flatting.
One of the worse effects on the mind of people, they see these effects (perhaps not Dennys) and think they are just an over lay. But I have done these and enjoy them but they do take a lot of time and layers, each layer has to be built by itself.
Back to the ovals, if you are unsure what an PNG is Google that part, once they had the PNG picture in they did an pan/zoom with a single key frame. But you can set as many key frames as you want.
What you asked is serious advance work in any NLE, but with time, study and learning can be done.