Seems to roll through the Color Lookup Tables in slightly different ways, then reverts back to normal. I first tried this - admittedly not on live video- using BlissPaint many years ago. Except BlissPaint actually gave you some control over how the CLUTs were being cycled through.
This app is more like the original iTunes visualised- just try them out and hope for the best.
It also seems unfinished for a v1.5. There’s no indication of what the point is in choosing a static image for some of the filters. Or what will happen with your sound file when you select one.
Lastly, the video that it exports is low-res at only 640x360. The app is possibly slowed down by the fact that it insists on keeping two video windows open, one for the raw iSight video, and the other for the processed video. I don’t need to see the original video, just show me one window and give me the option to bypass the filters like in Logic or any audio application.