It's the demo of Real-Time Marquee Component as semi-transparent. And, in the background there is an instance of PicShow Component.
The attached file contains source and executable of the demo (written in Delphi 7). If you are going to compile the demo, you need the following components:
- FindFile Marquee Component
Used for preparing list of image files. - PicShow Component
To have a dynamic background. - Image Work Package
To have small download size, the sample images are low resolution and small. I've used ScaleImage function of ImageWork package to scale images up to the screen's dimensions. - Real-Time Marquee Component
All is about this component.