I stumbled upon a nice chrome glow effect while making a banner.
UPDATE
So I update the mouseOver effect with a sideways blur motion.
But it is very hard to make it happen. The group div with a 45 degrees rotation doesn’t move around that easy anymore. See my clown video.
Looks great 
What is the technique? Are you animating dashing with a drop shadow?
Made a blurred image copy in Photoshop and layered it in Hype over the original.
Then made a group and set overflow to hidden (mask). With a small set width I let it run over the original image fast. To make the edges soft I used a CSS blur filter.
The rest is all about keyframe timing.