Jed Merrington (single_wave on Reddit) has posted object transitioner code to the Unity3D subreddit for other developers to use. Language: C#
Pastebin link : http://pastebin.com/8siTfu9v
You’ll find discussion about the code at the original reddit thread here.
You can follow Jed’s games programming work via his website jedmerrington.co.uk
Here’s another video example of the effect:
Again, you can find that object transitioner code on pastebin here : http://pastebin.com/8siTfu9v