Is there an update on this? UE is incredible and having worked with Alembic myself at Imageworks as a Technical Director I can tell you it’s super powerful and a very smart framework! Just about all major 3D softwares have alembic support and if UE can support it as well, it will open up the market to more then just games and games using it would benefit greatly!
This video (from 2011) at the 11 minute mark has a brief talk about alembic. For instance the massive transformer geometry didn’t require blendshapes(shape deformations) because they are only objects being transformed, same goes for iron man and environments, so you don’t make a point cache of a transformer every frame you only make a struct of the transformations of each object which is how alembic is smart.
Keep us updated please!
[video]http://media.fxguide.com/fxguidetv/fxguidetv-ep116.mp4[/video]