Okay, then. I'll try to explain. How are you at analogies?
Picture your movie as a canvas. Take your AlamDV paintbrush, and paint some picturesque spaceships, lighting bolts, and blood spurts. What you have at the end is essentially the same picture, just spruced up with some new colors and objects that you have painted in.
Take another canvas. Now, cut holes in it, run it through a paper press, stretch out the fabric. What you have now is a seriously warped image. It may resemble what you had before, but the change in how everything looks in it is very noticeable.
AlamDV only does the painting, not the warping and cutting. So to put it back to non-analogy form, the matrix bullet waves are not possible because that warps the footage. What is
available is a smoke trail type of plugin, that "paints" a smoke trail on the path of your CG bullet. Granted, it's not the effect in the matrix per se, but it's what can be done using AlamDV's capabilities.
I hope this explains a little bit for you. Also, if you want the matrix Bullet Trail for AlamDV, go here: http://www.csb-digital.com/alamdv/plugins/plugininfo.php?id=122