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"panels" Main-parental function to build the animation
"drawables" Defines the image to use for different keyframes (Filepath)
"keyframes" Defines the keyframes used to create the animation, values larger than amount of frames will loop animation
"timecode" Where in the "timeline" does the action take place, can be placed in any order. NOT a duration.
"startTime" How delayed the animation will be, will not stop other animations and will cause overlap.
"zoom" Defines the zoomlevel for the image, setting to 2 will double the image and 0.5 for half-sized.
"alpha" If 1, Opaque image; if 0, fully transparent image; values in between denotes transparency.
"position" up/down)
"audio" An array of items to use in the animation for sound, many arguments used in animations also apply to the sounds.
"resource" Filepath to the .wav audiofile(s) to be used during the cinematic

Additional info regarding the cinematics:

Using the /cinema command can be useful to test out cinematics, however caution must be taken as many cinematics softlock the game after being opened, forcing you to restart starbound.

There are several animations and cinematics in here. However, when you explore the folders you notice race-specific subfolders containing files called ".disabled". The contents of this folder are disabled in a specific way, if you delete the .disabled file ending you can actually see a race-specific animation on character creation. This is most likely an unfinished part of starbounds development still being worked on. Enable them only for tests, it's not recommended to keep them enabled.