i don't think that this effect is created with particles, it looks like they used models.
Try it this way: The figure creates some model-copies of itself on its position.
Every copy is a bit larger than the previous one (scale_z), but the scale_x and scale_y is smaller because the effect is not visible at front.
Then use a blue skin and TRANSLUCENT and BRIGHT - flags for the models.
Set the models passable and set their position every frame to the creator-position; also they have to be animated, too.
I think this way is used at your screenshot, because you see a gradation of the blue transparent.
In addition you can use particles, which are created at the entity-vertices and are rising.

I don't know which "manual gamestudio example" you mean, but maybe my idea from above can help you to create your effect