We'll surely need the CS for this at LEAST and most probably the script extender. Mods like this exist for Oblivion as part of bigger combat packages, so it's fair to say that it's possible. It's just gonna take awhile to implement unless by some grand stroke of luck, Bethesda is going to release a tool capable of doing exactly what needs to be done to get this kind of thing to work properly. Based on their history, I rather doubt they will. Not to say the new CS won't be great, just probably not that great.
Since the basic version of the Fus Ro Dah shout already works like a kick I think the effect will be pretty easy to implement. Of course there are no legs visible in 1st person, so implementing that will be the hard part. Probably even impossible unless you are ok with a wonky '3rd person faked into 1st person' view. Like some mods did for Oblivion.