Here is an example of what can be achieved by using a QML extension plugin called Shaders which provides shader effects for QGraphicsView based Qt Quick 1.x. All that is needed is Qt 4.7, the QML shader Plugin and according to the original post imagination for writing QML & GLSL.
Another video showing the effects of this plugin:
For more information, jump over to the QML ShaderEffectItem on QGraphicsView page. Happy shading.
