(Android Market link)
Just uploaded a new one a few minutes ago! Basically, Prismatic works similarly to a traditional kaleidoscope, breaking up an image with a series of mirrored facets. It's surprisingly hypnotic and beautiful to watch, and with the right settings actually works surprisingly well as a background.
There's a wealth of settings available here as well. You can control how many facets the prism has, both radially and concentrically. You can modify the default movement speeds of the image and can control how much it'll move with touch. We've got over a dozen backgrounds included by default, but you can select your own custom images as well. Plus there's controls for brightness, rotation speed, and more!
Several of the included images are based off of Creative Commons Attribution licenced work, and if you want to take advantage of the custom background feature you should check out the authors. Patrick Hoesly was responsible for a few of them, and two came from WebTreats.
This one's very cool to watch, and I believe we've got a stronger effect than the similar stuff on the market. Hope everyone likes it!