Thanks, yeah I had forgotten where I got it from (Oppenheimer) and thought it was supposed to be in the manual somewhere
Interesting observations, thanks for sharing those too I didn't know the separation could be limited by sprite boundaries if you apply it on the sprites themselves. I'll make sure I avoid that. Yeah the 100+ pixel shift behaviour is weird. Luckily I don't need to shift the channels that much. I'm just using it to simulate color bleed right now.
Maybe it could be used as some kind of shadow/motionblur trail too? Mmm...