This plug-in creates an effect that sounds like the sound is rotating around your head. Headphones should be worn to hear the effect properly.
The effect modulates the amplitude and applies a synchronised low pass sweep filter to create a “spinning” effect. Although it is a rather simplified form of spacial modelling I think that it is reasonably convincing.
A short demonstration of the effect.
The change in spin speed was produced by applying the effect to consecutive sections with different spin speeds. To achieve a reasonably smooth transition, the selected sections were each an exact number of rotations - for example, 4 seconds with a rotational speed of 0.75 rotations per second is exactly 3 rotations.