I upgraded to android 5 and the screen power off effect which was imitating power off of these old CRT monitors is lost. Is there any way for me to restore it?
If you have rooted your device then Xposed Installer can do this. Xblast tools & GravityBox are xposed modules that have crt off and many other effects.
The old way was to manipulate certain parts of the code in the framework-res.apk file and then update somethings in the build.prop of the device. Of course this was when I was running Gingerbread (2.3) on my Samsung device. As of now, you could look into the system packages of latest Cyanogenmod git branch/ or wait for CM12.