Does it work for you? projectM pulseaudio visualization
Fedora 14 - http://bugzilla.redhat.com/652974
Test-case:
1) yum -y install projectM-pulseaudio
2) Applications > Sound & Video > projectM-pulseaudio
3) no animation, not even if music is played
Does it work for you?
If so, which graphics hardware and xorg-x11 driver is this with?