Inspired by the algorithm from ClockMaker's work, I tried to replicate the same effect with Stardust, and this is what turned out. The main idea is very simple: prerendering 360 pieces of bitmap data of a display object rotated at 0~359 degrees. All the visible particles are Bitmap objects, and they change their bitmap data according to their rotation values, each picking up a bitmap data from the 360 prerendered ones.
Simple, but produces much better performance than using vector graphics alone.
The source files for this example can be found here.