The new animation system in Honeycomb isn't specific to Views, isn't limited to specific properties on objects, and is not just a visual animation system. Instead, it's a system that's all about animating values over time, and assigning those values to target objects and properties - any target objects and properties. So you can move a View or fade it in. And you can move a Drawable inside a View. And you can animate the background color of a Drawable. In fact, you can animate the values of any data structure; you just tell the animation system how long to run for, how to evaluate between values of a custom type, and what values to animate between, and the system handles the details of calculating the animated values and setting them on the target object.
Since the system is actually changing properties on target objects, the objects themselves are changed, not simply their appearance. So that button you move is actually moved, not just drawn in a different place. You can even click it in its animated location.
In fact, here's a quick video showing some of the animation code at work. The video starts off on the home screen of the device, where you can see some of the animation system at work in the transitions between screens. Then the video shows a sampling of some of the API Demos applications, to show the various kinds of things that the new animation system can do. This video was taken straight from the screen of a Honeycomb device, so this's what you should see on your system, once you install API Demos from the SDK.
Reference: Animation in Honeycomb