While putting together this video, I discovered that the Type On/Type Off parameters were being ignored upon "sharing"/exporting and the keyframes were being erased every time I quit and restarted FCPX. It made me very unhappy and I almost put this effect on the back burner... I like it too much so I changed out the broken part with a simple Opacity. It's not quite the same, but I doubt too many people would notice the difference. As soon as Apple fixes the problem, I'll release a v2 with the type on-off effect put back in.
This effect can also be used as a simple circular bug.
Download from:
http://sight-creations.com/free_stuff...