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Pretty much looks like a few animated parameters on a Roughen Edges effect, to be honest, such as the scale, softness and depth of the edges. All you need in preparation is to have the elements separate from the background.
Mylenium
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Could be a Gradient Wipe which you'll find in Effect>Transition. The trick here is to create a customized gradient which will help to dictate which areas/pixels are affected by the wipe transition effect.
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Pretty much looks like a few animated parameters on a Roughen Edges effect, to be honest, such as the scale, softness and depth of the edges. All you need in preparation is to have the elements separate from the background.
Mylenium