XBMC is an award-winning free and open source (GPL) software media player and entertainment hub for digital media. It supports a lot of operating systems and has a very nice addon interface which makes it well expandable and customizable.
Based on the processing, analysis and animation algorithms present in fische, fishBMC offers a very similar feature set packed into an XBMC addon.
fishBMC has been merged into XBMC and will be part of the next major release. Until then, you can build from source or use a prerelease version of XBMC.
fishBMC uses OpenGL for rendering. Porting it to DirectX and/or OpenGL ES would probably be trivial for anyone experienced with those libraries. I just don’t have enough capacity to do it (plus I don’t have a Windows machine)