Sort of, as I understand it the animation is showing the limit of a portion of the identity (the e^i(pi) part) as a limit of a continuously componding function in the imaginary plane. Its being graphed over and over with smaller and smaller values of N in the function. The cool part is that the final value heads to -1, which when added to 1 equals zero. This function is really cool and has all these mind boggling implications that I find really fascinating, and have not yet even begun to understand. Euler's constant is the most beautiful number in mathematics (at least in my humble opinion), and I love the simple beauty of the graphic. Anyway, that's probably way more than you wanted to hear, but I really like mathematics almost as much as I like writing!