Yeah I think this is a cool idea;
You could have it like the spirit bomb, put the 'bomb' on vegetas palm and have the energy particles come from just in front of him, it would make it a bit more obvious what the move is and look damn funky, not like the show at all, but funky all the same.
And DarkOwnz, i'm not flaming you or your choice of technology but do you run ESF on a toaster? My schools computers run Pentium 2's with 64mb ram and internal graphics and can still run ESF reasonably well. I don't think eye-candy should be knocked considering they can be removed easily by clients if they can't handle them.