Okay, first things first: It does not have a muzzleflash. However, I can kind of get away with this by saying that the scanlines obscure your vision. If you want to flame, go ahead, but consider my shield activated.
Second, I did this mostly as a test, to try to make a high-tech hud (for HA weapons) but figured I liked it enough to use it for normal LMG anyway.
Third, the view bob makes it look a little odd. Nothing I can do about that.
Fourth. I think it rocks, so and whining you have to do will fall on deaf ears.
Fifth: The scanlines don't show up too well in these pictures, since I shrank the screenies. They look like the scanlines I posted in the transparency thread, in a more suitable TSA blue colour (here).