WHY NOW? -- Of the numerous feature requests have come and gone for particles, I'm aware of only one change to particles has been made in the last nearly 3 years that I've been using them. (the introduction of ANGLE_BEGIN and ANGLE_END and retirement of the very confusing INNERANGLE and OUTERANGLE). It's been a very dry spell for particles.

AT WHAT COST? - Most of the code to create this feature already exists and should have little to no impact on any other parts of the SL client, which should hopefully make it both EASY and NON-RISKY.
WHY NOT OTHER PARTICLE FEATURE REQUESTS? -- By adding this aspect to llParticleSystem, many of the particle questions I have to answer with "You can't do that in SL" would be resolved in one fell swoop. The most numerous "can't do that" I get is the inability to "Fade-in" a particle texture.
WHAT IS THE FEATURE? -- Independently, llSetTextureAnim() and llParticleSystem() are extremely versatile, powerful and cool... just imagine the effects that could be created if particle textures could be animated!!! Bubbles that pop, butterflies that flap wings, fire that flickers and turns to smoke, magical effects that fizzle out, droplets that break apart, textures that spin...
The hypothetical syntax could be:
CODE
llParticleSystem( [ PSYS_SRC_TEXTURE, "MyAnimParticle",
PSYS_PART_ANIM_FLAGS,
( ANIM_ON | SCALE | ROTATE | SMOOTH | LOOP | PING_PONG | REVERSE ),
// default: 0, obviously not all options at once!
PSYS_PART_ANIM_FRAMES, < (frames_wide), (frames_tall), (unused) >,
// default < 1, 1, 0 >
PSYS_PART_ANIM_RANGE, < (start), (end), (rate) >,
//default <0,0,0>
// ...(remainder of particle definition)
] );
Alternately, perhaps allow -1 for the (side) argument of llSetTextureAnim( (options), (side), (wide), (tall), (start), (end), (rate) ); and have it apply to that prim's particle texture.
Yes, I know full well that this feature request goes straight into the "froofie but cool" list of feature requests that so many people hate because they would rather have LL to ignore everything except lag and stability issues... but I think adding it would be a huge step forward in addressing the numerous lamented short-comings with particles, and give content creators a powerful new creative tool.
And, to the folks that 'hate' particles, I'd like to point out that any tool can be mis-used. Folks don't hate cube prims just because someone made them blue and put them all over with inflamatory politicial messages. Be mad at the tool's abuser not the tool.

Anyway, here's to hoping that this feature is not just possible... but fairly trivial to deploy!
Prop: 2108 - Add llSetTextureAnim capabilities to llParticleSystem!
(I'm presuming it's openGL as there's a mac version of it as well.).