Looks more like power auras classic to me... You shouldn't raid with out it IMO... I use it for everything from spell alerts for bosses, my spells, cooldowns and trinket proc's. It's also got built in timers too.
PowerAuras is most likely being used for the static central icons to indicate when a buff is present, but when a cooldown is finished it is only those being tracked by the Forte Cooldown bar that are being splashed, so in that case it is Forte likely doing the "splash" effect.