Latendresse76 is helping me out currently and has turned the mesh upside down and enlarged it a bit. http://img442.imageshack.us/img442/725/mgescreenshot31.jpg
http://img163.imageshack.us/img163/8906/mgescreenshot30d.jpg
And yes, it's animated in the same way the original levitation spell was animated. Except upside down in these new shots. So it looks pretty cool.
While I'm at it I suppose I could have a look at replacing the levitation texture with a different Morrowind magic texture, for those who are bored with the purple.
Hurray for NifTexture...
Edit: http://img600.imageshack.us/img600/3507/mgescreenshot33.jpg (vs http://img109.imageshack.us/img109/1461/mgescreenshot34.jpg). Good, yes/no?