Studio Edition

In some simple terms you can do both. First the animation. Lets take a face of a clock that you create in filter forge as a filter. You can take that filter and add
some controls to animate the hands on the clock. Now create a new project and import that filter into a new artboard. You can now render out the frames of that filter
as a video.
Now comes the video. Again Create a new project and artboard and you can open a video and apply a filter to that video by importing a filter into the artboard.

I have a video tutorial that I created with very basic animated text and how to create the effect in Filter Forge. There is sound on the animated text but not with the tutorial part. Got to find time to finish it.
Animated Text Tutorial