Yes it is. It's a flash animation with a whole bunch of letters falling downwards, 3-5 of them green and one of them purple or blue, with some flashy stars in the background, and it asks you to type only the green letters.

And if you hit the button to get a new CAPTCHA, the old letters vanish with a sparkly effect before the new ones fall down.

Yup. I was about to comment that had this been not flash dependent, it'd been rather tolerable. Although, asking to type in only the green captcha may pose problems for those suffering red-green color deficiency

Also interesting: Animated Captcha is said to be harder and easier to crack at the same time. http://phys.org/news/2012-02-stanford-team-animated-nucaptch...

You can click "trouble distinguishing colors" for a GIF version.

Yes it it. "Type the GREEN Moving Letters", which gracefully fall from the top (along with some that are not green) while twirling stars fade in and out in the background.