Nes Smash Sprites

[Vipershark]

I'm no expert on NES style so I could be wrong
please don't attack me if I am

but, to my understanding

each frame can have 3 colors plus transparency

frame one can have 3 blue colors
and frame 2 can have 3 red colors and they can still be in the same animation

but there is no color limit imposed on the animation itself, since all it is is different frames displaying one after another

that being said, I don't think there is a limit to the number of frames, either since all an animation is is different frames in a sequence.

edit- look at mario's invincible sprite
there are like 5 different palettes it cycles through, but they're all the same animation