The problem with this system is it actually makes animations that look like shit. Seriously how many flash games have you seem made with good animation using the flash armature system. Armature systems are good in conjunction with a frame system, but not really when it is only an armature system. Look at vanilla wares…
From what I can tell (haven't tried it yet) it's a skeletal animation system for bitmaps. You create all your bitmap images in any external editor you want to, it reads them in based on a folder structure. It'll export all the animation data as XML. You can try it out for yourself, both a beta of the new version and the…