Barefoot_Monkey: I don't see animations as such a bad thing, but I suppose I haven't looked at the way they did it as well as you.
I suspect that publically-licensed fonts may start to become more common once there is a practical use for them. This is one of the reasons I'm happy that the font support is arriving.
It's just that CSS animations would promote a second standard that does nothing but duplicate (spec-wise, Firefox doesn't support SMIL) existing functionality. I'd rather stick with the current JS workarounds a bit longer and when it's finally all working, end up with only two sets to maintain: the SMIL code and the JS workaround. Otherwise, I'll have to check for CSS animations, then fall back to SMIL and finally to JS and static CSS. 25% more work without any real benefit.
P.S. If you want to use something like this now, I have a function that does it somewhere in my toolKit with few dependencies (I think only hardScope which doesn't have any dependencies at all). I can post it if you want.