Create a document in Flash.
Prepare a logo, a text or a picture. (collectively, the "logo")
Create Graphic rhomb. Draw a rectangular and screw it on 30 degrees.
Create Graphic rhombInversion. It represents a strip with a cut- out rhomb in the middle. A strip is three times as long as the width of the document.
Create MovieClip glass1_mc.
Place the logo in the first layer.
Place rhombInversion above. Convert the layer to mask. The logo is in the mask layer.
In the third layer, place the logo with 1-2 pixles shift either to the right or left.
Place rhomb above. Convert the layer to mask.
Set the motion of the both masks from left to right, frames from 1 to 80.
To make it more realistic, add catchlights on the sides of the moving rhomb.