Turns out the PNG frames will work on the MotoACTV however it doesn't seem to load them as fast as JPGs for some reason despite the opposite being true for the bootanimations on most other devices and so in my experience at least, the JPG versions are better (smoother) on this device.
However I understand people's mileage may vary and some people will take a trade off in framerate for the sharper edges and so I have uploaded a PNG version. This will of course need to be renamed before dropping in /data/local or /system/media. You will also notice I have also replaced the preview gif for one with a higher framerate that more accurately represents the speed it appears on the device!
Previous Devices: Samsung Galaxy Tab 10.1 16GB WiFi (sold)