To make the scene I first put two lazers side by side, with the sphere in the path of one of the lazers. (If you want the 'bending' effect seen in the picture as the lazer passes through the sphree, then you should put the lazer off center of the sphere. If the lazer passes through the center of the sphere then the bending will not occur)
I then made a large plane, placed below the orb, and applied the material described in The Water tutorial to it
I made the 2 'mirrors' from cubes with a reflective material applied to them. I then made 3 cylinders to act as stands for the sphere and the 2 cubes
Each 'reflection' of the lazer needs a new direct light object, so there are a total of three direct lights making up each lazer beam, a new light being needed for every reflection
The last thing to be added was an omni light with raytraced shadows