Framewerk handles all the effects. You can implement them yourself one at a time, but it is difficult, even for me, to get all of them working together. So most people just use Framewerk instead of struggling with basic rendering effects. It handles DOF, water, bloom, HDR, god rays, SSAO, and a bunch of other stuff, with simple on/off behavior.
Lua is quite new, and the integration with C++ is something we have to explore further. This will evolve, but I would not start writing a large amount of code in Lua just yet. I think it is possible to expose all your own C++ classes to Lua and call engine and C++ functions from the script, but we still need to work it out.