I haven't seen Anders handling, but since his and Tim Ellis's rely on the same basic principle, I can give a few comments on it.
You can pour your self a drink, crush the can and then later restore it. However, you will have to switch it for a prepared can at some point. I was expecting this at the lecture (I knew they'd be performing this effect), but the way Tim & Sue-Anne handled it completely fried me - it's covered perfectly. That was mainly due to their acting abilities when doing the switch. It was 100% casual.
I believe one of the differences is the way the can is resealed. Personally, I prefer Tim's setup for this - I feel it's cleaner.
As I stated in an earlier post, this is something you can only really do one time in an evening. There's also a restriction on when in the show it can be performed. I realize that's a bit vague, but I don't want to give anything away.
That said, it's an incredibly visual - and as has been pointed out aural - effect. Once the switch is done there's pretty much nothing to see. You hold the can at your fingertips and it expands. You can see and hear the can expanding. Once it has completely de-crushed, you show the opening and turn the can upside down to show it empty. Then, you blow on the top to reseal it and make a magical gesture to refill the can. You can then pop open the can, pour out a new drink and and the can and drink to anyone you like.
Here are websites for the folks involved:
Tim Ellis & Sue-Anne Webster: http://www4.tpgi.com.au/users/katzkin/
Channel One Magazine: http://www.rfaproductions.com/
And, obviously, David Harkey's effect can be found in the bound Apocalypse volumes that have been released. I know absolutely nothing about this effect aside from the fact that it's an enitrely different method than the Moden/Ellis versions.
Hope this helps,