Im not 100 percent sure what your trying to create effect wise, but on thing i do is i create a models of the basic pieces that i need to create some effects, and then create alpha maps for them. This is kind of an old school type method for doing this but it is still used and with the right kind of touch can still look really good...(That may not be a really good explanation i know... its kind of hard to just tell you.)The best way to for you to understand is to look specifically at an example.
http://www.youtube.com/watch?feature=player_profilepage&v=Vx_XFE0JGMg
the other alternative is to create a textured particle (alpha/transperant image instaces) and use some physics math to "throw them" during an explosion.
this would probably be the best way to accomplish what you want quality wise anyway.
Age of Reliks WIP...
