Took a little time out to look at bond's animated shader and came up with this.
Animated the scene and rendered the shadows and compiled these into a sprite for use with the shader.
All I really need for this is a simple atlas walk shader, I tried to create my own but there are artefact issues caused by timer when used in FPSC and I simply dont have the savvy to fix it so had to go with bond's. It really doesn't need the illumination or the diffuse with mask he uses and I did my best to lower the contrast and illumination settings,it got there to an extent but I cant seem to get the contrast down enough, so you can see there is a difference in the walls appearance.
Still its a nice effect and you get the idea.
To complete it all would be to create a sprite for the shadows on the fan blade which would animate as the blades rotated, I dont see any reason it wouldn't work, just dont have much time to do it right now.
VIDEO:
http://www.youtube.com/watch?v=-hlckJgLCOI
Please excuse the choppy animation on the fan blades its down to crappy laptop and screen capture, it all plays smoothly in-game.