I came across and tried this particle editor TimelineFX from rigzsoft. TimelineFX is quite similar to wondertouch’s Particle Illusion…although TimelineFX is a stand alone application only for both mac and windows it is a few hundred dollars cheaper coming in at around $30.00. TimelineFX is propositioned specifically as a generator of particle effects for games and applications, however, it is actually a great way to develop sprites for other particle systems, be it 3D or be it back in After Effects using Trapcode Particulars… just a little brainstorm there. A trail version is available, so try it out for yourself.
“The TimelineFX Particle Editor is a complete solution for creating a full range of particle effects for your games and applications. Export the particle effects as static animations onto sprite sheets, animation strips or image sequences in PNG format, or if you develop for the iPhone or iPad, you can export using the PVRTC format (Mac only). If you program games using the powerful Blitzmax programming language, you can also use the effects directly using the TimelineFX Module.
Create an endless amount of different and varied particle effects including explosions, smoke, fire, water, steam, bubbles, and much more! Animations can be easily configured to loop seamlessly with just one click of the mouse, and with another click, you can even make animations tile seamlessly too for use as animated textures.”