Norman,
Another way to create this effect is to use Trapcode Shine for the rays. I can’t remember what software it works with, but I use it with After Effects.
Yes, the comet-looking thing looks like a Particle Illusion item.
If you have medium to higher end editing software, you can most likely achieve the moving rays, and if you want to add the comet thing (if you don’t have Particle Illusion) check out http://www.digitaljuice.com . Then go to their “revealers” library.
Good luck in your journeys.
