The Collaborative International Dictionary of English v.0.48:

Effervescence \Ef`fer*ves"cence\, Effervescency
\Ef`fer*ves"cen*cy\, n. [Cf. F. effervescence.]
   A kind of natural ebullition; that commotion of a fluid which
   takes place when some part of the mass flies off in a gaseous
   form, producing innumerable small bubbles; as, the
   effervescence of a carbonate with citric acid.
   [1913 Webster]

WordNet (r) 3.0 (2006):

effervescence
    n 1: the process of bubbling as gas escapes
    2: the property of giving off bubbles [syn: bubbliness,
       effervescence, frothiness]

Moby Thesaurus II by Grady Ward, 1.0:

114 Moby Thesaurus words for "effervescence":
   ado, agitation, animation, assibilation, boiling, breeziness,
   briskness, brouhaha, bubbliness, bubbling, buoyancy, bustle, buzz,
   carbonation, commotion, disturbance, ebullience, ebulliency,
   ebullition, eddy, effervescency, effervescing, embroilment, energy,
   exuberance, feery-fary, ferment, fermentation, fizz, fizzing,
   fizzle, fizzling, flurry, foaming, frication, frictional rustling,
   frothiness, frothing, fume, hiss, hissing, hurly-burly, hurry,
   hurry-scurry, hush, hushing, life, lisp, liveliness, moxie,
   pell-mell, pep, peppiness, perturbation, piss and vinegar, pizzazz,
   rhonchus, ruffle, shush, shushing, sibilance, sibilation, siffle,
   sigmatism, siss, sissing, sizz, sizzle, sizzling, sneeze, sneezing,
   sniff, sniffle, snore, snort, snuff, snuffle, sparkle, spirit,
   spiritedness, spit, splutter, sprightliness, spumescence, sputter,
   squash, squelch, squish, sternutation, stertor, stir, swirl,
   swirling, swish, to-do, tumult, turbulence, turmoil, uproar, verve,
   vim, vivaciousness, vivacity, vortex, wheeze, whirl, whish,
   whistle, whistling, white noise, whiz, whoosh, yeastiness, zip