Can Vegas do this?

[Edward Troxel]

Absolutely. It’s what I call the “Stuttering Video” effect in Excalibur. You need to make sure that only the pieces that are moving are want you want it applied to, though. Helps to have the camera locked down so the background doesn’t move.

The basic technique (with 3 tracks for example)

Track 1: clip offset left 8 frames
Track 2: clip offset left 4 frames
Track 3: clip no-offset

Track 1: change opacity of the clip to about 33%
Track 2: change opacity of the clip to about 50%

See what that gives you.

Edward Troxel

[Arthur Bueno]

It seems to me it’s a bit more complicated: the image of the woman seems to be frozen during the zoomout, before she starts running. The frozen frame is enlarged/moved to the right using pan/crop and moves to it’s final position by use of keyframes.
Then the stutter effect can be made with Excalibur, or for instance the spicemaster step-time effect.