@Andy_P
I'm guessing this is done through changes in color gradients, and how fast the colors move through the circle. It's quite beautiful and intriguing.
@epic @Andy_P
I might have been wrong too initially. It might actually be mostly because of those thin lines on the outside/inside the circles.
It's easiest to notice when the circles are "moving" in only one direction, the lines are noticeable only on the orientation the circles are "moving". In that frame I posted, you can see lines on the top and bottom of both circles (and the circles are moving from top to bottom or bottom to top), but they shrink to nothing on the sides (and there's no sideways movement during this time).
@alyx The simple answer is there’s no optical illusion at all. The illusion is you’re trying to tell your brain there’s no change, but they’re really moving and squashing the ‘circles’. 😀 @Andy_P