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PixelConduit is a downloadable free Mac app offering real-time video rendering-processing. Ideal for creating complex visual effects, as well as for many needs related to post-production, special effects and animation.
Key features include:
From the official site: "There's no limitation on resolution or frame rate so it’s possible to mix NTSC, PAL, HD and any other sources.PixelConduit's extensive file format support covers also image sequences and pro formats: raw YUV, Cineon/DPX at all depths, OpenEXR..."
PixelConduit can also capture live video from multiple video sources simultaneously.
More info: http://pixelconduit.com/
Download free Mac version: http://pixelconduit.com/downloads.html
App Store access: https://itunes.apple.com/us/app/pixelconduit/id593999619?mt=12
User Guide: http://pixelconduit.com/PixelConduit%20Guide%20v3_0_01.pdf
Pro "Complete" version: http://sites.fastspring.com/lacquer/product/pixelconduit