I'd imagine that if you download that code, it will show you how to do it. Personally, I'm not that versed in javascript, so somebody else will have to translate it.
The javascript seems to only be controlling the position and display of the two layers/divs that then hold the code for the flash files. Now as to what went into the makeing of the flash files... I am still trying to figure out flash. :) What you might do is check out www.visualsteel.net since they appear to hold the copyright on the effect.