This has probably been done before but I did a quick mod on the red eye to make it a deep blue. Everything else is the same. I'm a total noob to animations and bootanimations, and this is a total ripoff of the original (just a simple hue mod), but I really liked the finished look.
The same process applies as stated elsewhere to load it. I found it was easier in Cyanogenmod (w/Busybox installed) to just load the .zip to the sdcard via USB and then run:
cp /sdcard/bootanimation.zip /data/load
via the Terminal Emulator program to copy it over. Then get out of USB and reboot.
Make sure to backup your files first, etc.