Animation is issue #2 on https://github.com/google/iconvg and I have some ideas but no code yet. I'm also midway through changing the current "version 0" format into a "version 1" format, dropping things like the ArcTo op (inspired by SVG) precisely with one eye on (future) animation support. The ArcTo large-arc-flag, like any boolean-typed value, is impossible to interpolate smoothly.
Ideally though, the tiny* formats should be forward compatible (?) and interpretable as a valid non-Tiny* document. That would be quite nice for wider adoption (like JSON).
It's not very well known, but it's so elegant, and also efficient, especially for scanned files.
A compressed, paginated and indexed postscript file is not complex.
How does eps really compare with the other formats mentioned above?
The big problem with PS, EPS and Flash as simple graphics formats is that they're all turing complete and you can author documents that will never terminate. When importing EPS, Illustrator used to have a timeout and would fail if the render didn't complete in a couple minutes. I assume it still does, but haven't tried it in years.
Looking at the website, it seems like the file format is OSS but the creation side of things is proprietary?