Tricky, but possible. I can think of several ways in DB alone - don't know how efficient any of them would be because I've never tried before. But here's an example I quickly knocked together. Basically, it creates 3 cubes: the subject, a red cube, and a cyan cube. The colored cubes are ghosted to make them transparent. They are "glued" to either side of the subject cube. Pretty simple, not a great effect- it works, but could be improved. Move around with the arrow keys and turn with the mouse:
set display mode 800,600,32
sync on
sync rate 60
hide mouse
autocam off
make object cube 1,25
rem red side
make object cube 2,25
color object 2,RGB(255,0,0)
ghost object on 2
rem cyan side
make object cube 3,25
color object 3,RGB(0,255,255)
ghost object on 3
glue object to limb 2,1,0
position object 2,5,0,0
glue object to limb 3,1,0
position object 3,-5,0,0
rem matrix for reference
make matrix 1,5000,5000,25,25
randomize matrix 1,100
color backdrop rgb(32,32,32)
do
gosub _move_object
sync
loop
_move_object:
speed=5
objx#=object position x(1)
objz#=object position z(1)
yang#=wrapvalue(object angle y(1)+mousemovex())
yrotate object 1,yang#
newx#=newxvalue(objx#,yang#,speed*(upkey()-downkey()))
newz#=newzvalue(objz#,yang#,speed*(upkey()-downkey()))
objy#=get ground height(1,newx#,newz#)+25
position object 1,newx#,objy#,newz#
set camera to follow newx#,objy#,newz#,yang#,100,objy#+30,1,0
return
Now, in Blender, there are so many texturing and modeling options that there are probably some great results you could get. You may be able to adapt this next suggestion for DBC to Blender.
This would probably be slow in DBC unless you use some DLLs but the idea is this. Capture the entire window as an image, logically AND all of it's colors with cyan and set that aside as a new image. Do the same thing, this time with red. Texture 2 3d screen size planes, one with each of the colorized images. Ghost the planes for transparency, and display them on screen offset a little to either side of the screen. Should do it... I may try to come up with an example.
Enjoy your day.