This tutorial shows you a trick to apply several special effects at the same time. Since iMovie allows you to only add one extra video layer at a time, This tutorial explains how to get around this restriction.

Download the green screen and pre-keyed effects: http://www.specialeffects.imoviehowto.com
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Electric Effect: http://specialeffects.imoviehowto.com/how-to-do-the-electricity-effect-in-imovie-11/

Fog Effect: http://specialeffects.imoviehowto.com/how-to-do-the-fog-effect-in-imovie-11/

Explosion: http://specialeffects.imoviehowto.com/how-to-make-an-explosion-in-imovie-11/

Rain Effect: http://specialeffects.imoviehowto.com/imovie-11-special-effects-rain-effect/