With the new Glow Material in ShaderFX 1.5, you can create bright glowing materials such as light sources, and you can even use it to mimic the blooming that occurs in bright reflections of regular objects.

The Glow Material node gives you all the sockets and settings you'll need for precise control of the effects of the glow. You can adjust the brightness, color, strength, and size of the glow aura, as well as use a mask to determine which part of your model will glow and what areas will not.