IssueTracker

The splash screen is dismissed as soon as the app is drawn and doesn't wait for the animation to finish which might be the reason why the animation doesn't repeat. At most, the icon will animate for the value set in windowSplashScreenAnimationDuration.

If that's not the case, can you please share your theme values and icon file? or at least a reproduction sample?

In the <objectAnimator tag, you need the repeat* attributes

<objectAnimator xmlns:android="http://schemas.android.com/apk/res/android"
    android:duration="1000"
    android:valueTo="200"
    android:valueType="floatType"
    android:propertyName="y"
    android:repeatCount="1"
    android:repeatMode="reverse"/>

https://developer.android.com/reference/android/animation/ObjectAnimator

In that case, you'd need to manually make you application repeat using other ObjecAnimator. Since the splash screen is supposed to be short lived, an animation shouldn't need to be repeated. If the loading time of your application is too high and require the use of some progress indicator, then I suggest to implement that in the app directly, ideally using skeletons loaders (https://medium.com/android-dev-nation/android-skeleton-loaders-1ae979a9d8c9)

That's definitely something worth discussing internally, I've added it to the list of thing to consider for the next version. Thanks for your feedback.

That's great! Thank you for letting me know.

No, this is defined by the system, but nothing prevent you for adding margin in your icon directly.
If the icon background is set and different from the splash screen background, the icon will be smaller but then you'll see a masked background.