I'm not sure if it's overkill, but version 1.7.0 isn't published to Cocoapods, which means that the latest version you can install through cocoapods is 1.6.0
I was able to install directly from github by adding this line in my podfile:
pod 'TextFieldEffects', :git => 'https://github.com/raulriera/TextFieldEffects.git', :tag => '1.7.0'