Even shorter and faster and most important - not memory hungry anymore!
Not that I would fully understand whats going on, but representing the picture as a simple matrix rather than as a nested vector of three matrices seems to do the job. Memory usage stays nearly constant throughout.
You don't habe to put the calculating expression in the picture place holder as I did - you might as well assign it to a variable.
I guess that your original sheet would perform nearly as well if you just change the data structure of the picture to a simple matrix.
Any explanation for that effect would be welcome.
At least you now can make animation using larger picture like here http://communities.ptc.com/videos/5467 (made from the attached sheet LizT_WE_5) and/or use more frames - whatever your intention is.