You can see the result on the video below. Please note that for the end result I've also use Z transparency with a Fresnel value of 2 and a Blend value set to 1.25. I've kept the bend modifier as show on the videotutorial but if you want it to be symmetric and all I would suggest deleting the Simple Deform (Bend) modifier. You can (and should) experiment with this a lot to create interesting variations.
Get the final .blend file from Blendswap.