See IM Examples, and specifically the gif2anim script
http://www.imagemagick.org/Usage/anim_basics/#sequence
That script not only separates the animation into individual frame images (coalesced or otherwise) but also generates a ".anim" file containing all the animation meta-data (disposals, positions, time delays, etc) needed to re-created the original animation from those individual frames.
Another script "anim2gif" reverses the process, simply by stripling comments, a small amount of text replacement and passing the options to a "convert" command.
You could say it is a 'prelude' to what I imagine IM v7 convert scripts would look like, and yet I originally created that script for IM version 4!