This is a cool, but really simple title effect to create. I saw it briefly the other day in the trailer for Valkyrie It occurs at exactly 1:33, although you can get the idea by just looking at the two images below. My wife even said “wow that was cool” when she saw it, and if she’s picking up on something like that in a title sequence, its gotta be worth mentioning here.
Another example: In this title sequence for the Dreamers is a much longer, and more visually complex example of that foreground-to-background effect. Emphasis on “visually” because I still say this is a simple effect to create. Might look fancy, but its not. It could be done in After Effects or even Flash with a mask for a title that is moving relative to objects in the video.
Btw, despite its campy title sequence that looks like it could be from a Love Bug movie, the Dreamers is definitely not for kids.