for now i'm finding few minutes here and there so this new update i just a new feature i added to the effects system, this feature allow you to create and attach dynamic light to specific effect.
for example: when you fire your weapon you see the muzzle flash effects a small area around it, this is because the muzzle flash is a real light and it lights the area around it.
to create this realistic effect i changed effects script and add dynamic light with small radius for x milliseconds for the muzzle flash effect, this way the area near the flash will be lighted.
i also changed rocket effect so it will create light attach to the rocket and cast shadows.
here is few screenshots:
muzzle flash lights the area around