Добавил: The DSystem
This is my first submission, so be nice :P
The effect is just a piece of .vmt coding, creating a refracting water effect as the knife. The water effect is animated.
The effect is best on HDR enabled maps, like de_train, in which the screen shots were taken. On non HDR maps less detail can be seen through the knife, and depending on the video card that you are using glitches may sometimes occur when swapping from fullbright maps to normal or HDR maps.