How can you do this effect in Premiere?

Hi

The cycling team Saxo Tinkoff have produced some very cool videoes. A lot of the effects, I can figure out how to do, but one is puzzling me. 

The effect can be seen in the video about Roman Kreuziger here at 6 seconds and 55 seconds:

http://www.saxobank.com/cycling/

The effects pushes and shakes the picture a bit to one side and the empty bit of the frame is fillede with a red blue tone, to similate and old school burn out from the days with 9mm.

Hope you guys can help