For a developer, the impact of a major new release is like that of being dropped into a stadium filled with half a million starved chihuahuas while wearing a set of meat pajamas.
This said, I would think that the popularity of this type of scrolling interface would be a priority task in new feature development. Tumult's integration of multiple layouts with breakpoints is timely, especially considering Google's recent shift towards mobile-friendly ranking.
I have done something similar, but in order to get it to work I had to use a drag object and, because of the pixel-to-distance ratio, I had to radically drop the number of frames. Here's what I came up with: http://ohair.com/OhairExteriors/exteriorsfeatures.html
(BTW, while I could have used CSS3 to control the color shift at the start, I allowed for older browsers and created a dissolve between two photos.)