Magic Bullet Denoiser + Magic Bullet Suite 10

Magic Bullet Denoiser is a new noise reduction filter for After Effects, apparently reworked from a filter in the discontinued Magic Bullet Steady. Denoiser's customizable controls let you smooth out chroma blotches and banding, focus noise reduction on shadows or highlights and perform separate adjustments for red, green, and blue channel offsets, while motion estimation algorithms help preserve fine detail in high-motion shots.

Denoiser is part of the new Magic Bullet Suite 10 for CS4, CS4, and CS5, which offers the Magic Bullet product line at a big discount.

Update: Of course there are a variety of de-noise filters; Noise reduction in AE noted a few of these. Peter Litwinowicz of RevisionFX noted that DE:Noise version 2 is in some cases twice as fast as the previous version, and that "a combination of feature-sensitive spatial blurring, along with tracking (and the ability to use both, or either independently) is what we've found the most useful."