Martin Eastwood Audio has released the Flame multi-effect plug-in as part of the KVR Developer Challenge 2012.
Flame is a matrix-based multi-effect. It does not have a set configuration, allowing you to freely route the audio between the different modules however you see fit. This flexibility allows you to create a huge range of sounds and effects.
Flame is available to download from KVR Audio as a free Windows VST plug-in.
More information: Martin Eastwood Audio Flame