It is very cool
One thing it laggs so is a "material effector list" (so you can specify which objects are effected and which are not, like a Lightlist does for lights...)
In these situation where you have to do that you will need to animate a gradient-material. Gradientmaterials are less not that well to handle and cant be positioned with the mouse-pointer (and cant effect several different objects) but they can be used at only one object.
The best thing possible would be a materialeffector with a "material-effector-list" and one that could be specified like a boolen cutter, so that you could give it any kind of shape.
With that it would be one of the most powerful tools... today it is very handy too, but we will see what can be done in future...
I have written a report for that.
*Fuchur*
Would it be possible for you to take my model and show me an example?
Right now I am about to pull a brain muscle taking this all in. LOL
Gene