Nothing has animation for now. Maybe sometime we'll have animated water, torches and other (maybe APNG?), but that's now more important than game usability and features, I think.
@MrThebuilder3: The torch stuff in MC is done with particle effects, but the liquids are animated. I've heard a few people mention particle effects for digging etc so when a particles system is added I don't see why not. However, I know that Celeron55 is working hard on more important things now, so it may be some time off unless someone else was to develop it.