Time Stomper. The Frozen in Time debuff causes the player not to be affected by gravity for 3 seconds and also causes all enemies to be frozen. While inflicted with the debuff your colors are less saturated.
- Frozen enemies can still inflict melee damage.
Credit for this idea goes to zoomo.
His profile can be viewed here: http://www.terrariaonline.com/members/zoomo.71392/