1) Make a 400x400 document. Now press "D" on your keyboard to reset the foreground and background colors to black and white.



2) Make a new Layer. And select the Custom Shape Tool .Now you want to select the Radioactive shape tool from the drop down menu. This is what it looks like:



If you do not see it try clicking the tab and going down to ALL.



Make sure FILL PIXELS button is selected on the shape menu.

Hold Shift while you make the Radioactive shape. Spread it out over the canvas.



3) Now apply Filter>Blur>Radial Blur and use these settings:



Now apply Filter>Sketch>Chrome and use these settings:



4) Duplicate the layer and rotate it, Edit>Transform>Rotate 90 CW. Use the Move tool to realign the middle ball area up. Now apply Screen as the Blending Mode to both the layers.



Should be looking similar to mine:


5) Select the top Layer and press CNTRL+E to merge the 2 layers together. After merging Duplicate the layer again and apply Normal as the blending option for the Middle Layer, leave the top layer blending mode as Screen:



Still on the middle layer apply Filter>Blur>Radial Blur and use these settings:



CNTRL+E to merge the 2 layers together again. Leaving you with just 1 layer and the background layer.

6) Now press CNTRL+U. And use these HUE settings:



Your almost done, just a few more steps!

Duplicate the layer again, this will make the graphic a bit bright. Now Merge them together again. CNTRL + E.

7)
Select the Paint Brush tool and then also select the 55 Star Pixel Brush type:



You want to brush in the middle area to make it look like is overloading and giving off crazy light streams. So click around a few times. This is how mine ended up like: