There isn't one. Easy as pie to build though...
http://www.vasst.com/?v=ultimate/us2_editing.htm

you can do this without Ultimate S, just follow the directions but manually copying the events to a new track and manually offsetting.
Then, make all of those events children to a parent track. The parent becomes the transition, so that any events below the parent/child composite become water drop radiating from the center. Make sense?
If you are using Vegas 6, I could build this for you in a matter of seconds and send you a veg file.