unregistered:
Why would transducers be expensive? You can buy all kinds of cheap transducers. Drive them with the signal generator of your choice. It's not brain science to make a plate vibrate using the peizoelectric effect. It's easy to drive stuff like that with a simple 555 circuit. You could build that whole device for under $20.
A good idea might be to put the transducer inside the top of the water block instead of "on" the water block. You want to shake the water, not the metal water block itself! Of cource, routing your wires out of the water block might be fun.
Not sure I buy the idea that it makes heat transfer better, but it could be a cheap and easy experiment for someone who plays with custom water blocks.
Also, it would be fairly easy to use transducers to push air through the radiator. But again, I don't think it really helps transfer heat. But I'm not a thermo-dynamasist either.
Also, you might check out
Electrostatic Cooling. There is also an abstract at
ECD. And here is
Cool Chips PLC proclaiming to use similar technology (Thermotunneling) in a device that looks like a peltier but isn't.
Anyone else got some weird science for us?