Can photobooth effects be applied to iMovie footage?

I'd like to film something on a camcorder then import the footage to imovie and apply the kaleidoscope effect to it along with some trails and some other effects. Please tell me this can be done

Not to my knowledge. You can use the built-in camera on your Mac *as* the Camcorder for something like that, that's all I can suggest.

too bad, apple's gotta hook that up.