No, I haven’t coined a new internet buzz inducing term…The Mega-Man Effect is a cool, but utterly useless, app for OS X users that changes the the way new applications are opened. Instead of the usual bouncing icon in the dock, this produces the program icon in the same way the villains were first shown in the old 8-bit Nintendo game.

Maybe a picture will help:

(Thanks to TUAW.com for the photo.)
Its fun for a while, but then you can just turn it off and back on again to show your friends and gloat that your Windows friends will never get this, because according to the author:

I’ve been getting a lot of emails asking about a Windows version of this. Sorry but I don’t use Windows anymore and have no interest in making a port.