I actually miss LA's channel 5 KTLA - back before 24/7/365 TV - they would put on that Gif and walk away for Xmas morning/afternoon...or run Twilight Zone at other times...
Kinda cool.
I once used the luminance key function on Video Toaster (AMIGA anyone?) to add color bars or video snow to a bit of Hi8 video I shot of a fireplace. Worked sweet. I probably have it on 3/4" and VHS somewhere.