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Woo, back again with another attempt at this. New issue of ImagineFX has a short, short tutorial on it (Page 41). So, I kind of copied that, for practice purpose only of course. It's not exactly the same, just the same idea. Anyway, what do you think? Looking at it now again I kinda feel there are to many lava lines perhaps? I Didn't add the colour with a brush or anything, I'm just using two gradient layers.
So here it is, thanks!
Paint it, don't use gradients until you know what you're doing. The lava is miles too bright and I'm not sure how it comes out from the sides so neatly - think of how a thick fluid would act.