Pode I think it's possible to simulate Mode7 using only a pixel shader. I will try some ideas, but I think it's doable.
Too bad it's not that easy to grab the image of a sprite with a shader applied. :/
I was counting on R0j0 updating his canvas plugin to allow me to create some iterative shaders to simulate fluids like smoke, air flows, possibly water, etc.
I did this once in CC. But to be doable there needs to be a way to use the output of the last frame as the input of the next one.