Here is my testing demo
Code:
#include <acknex.h>
#include <default.c>

STRING* file1 = "testing.avi"; //720*576

action myplay()
{
	my.ambient = 100;
	media_loop(file1, bmap_for_entity (my, 0), 100);
}

MATERIAL* mysunglass = 
{ 
	effect = "
	  	Texture TargetMap; // source bitmap
	 	sampler2D smpSrc = sampler_state { texture = <TargetMap>; };   
	  	
	  	float4 process_sepia(float2 Tex: TEXCOORD0): COLOR 
	  	{
		    float4 Color = tex2D( smpSrc, Tex.xy);
			
			if(Tex.x < 0.2)
			{
				Color.a = 0.7;
			}else
				Color.a = 0.4;
		    return Color;
	    }  
	    
	    technique Sepia {
		    pass p1 {      
		    	AlphaBlendEnable = True;
		      	PixelShader = compile ps_3_0 process_sepia(); 
		    }
	    }     
    ";    
}

void main()
{
	fps_max = 25;
	video_set(1280,960,24,0);
	level_load("");
	wait(1);
	
	BMAP* origin = ent_create("black.bmp",vector(800,0,0),myplay);
	
	PANEL* video_panel = pan_create(NULL,5);
	video_panel.bmap = bmap_createblack(720,576,32);
	set(video_panel,SHOW | OVERLAY);
	
	while(1)
	{
		bmap_process(video_panel.bmap,origin,mysunglass);
		wait(1);
	}
	
}