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Animated colors?

In the palette editor, you can see flashing colors on some tiles (used in yoshi coins, coins, and bowser's castle). How can I change these colors and/or use them in other sprites/objects?
You'll need to use Lunar Magic's built-in ExAnimation dialogs. Those are these two buttons: #lm{exan} #lm{exang}.

This is too complicated of a topic to explain in a short response so here's a tutorial instead. That tutorial goes into great depth about ExAnimation and it's worth a read.