try adding -loop 0 to your command. Perhaps it needs to be explicitly set. -loop 0 should make it animate and loop repeatedly.
Hopefully Anthony will be able to look at this post and give you more help as he is the animation expert.
It is possible that monochome images (-depth 1) does not support transparency. You could try adding -depth X -type grayscale with X=1,2,4,or 8 and see what happens. Also possible adding -colors Y where Y is the equivalent number of colors for the depth. EG depth=8 is 256 colors.
This seems to work fine for me on IM 6.6.7.1 Q16 Mac OSX Tiger unless I am missing something here:
convert logo: -resize 50% logo2.gif
convert -delay 20 logo2.gif logo2.gif logo2.gif -coalesce -monochrome -transparent white -loop 0 logo2_anim3.gif
identify -verbose logo2_anim3.gif
Image: logo2_anim3.gif
Format: GIF (CompuServe graphics interchange format)
Class: PseudoClass
Geometry: 320x240+0+0
Resolution: 72x72
Print size: 4.44444x3.33333
Units: Undefined
Type: Bilevel
Base type: Bilevel
Endianess: Undefined
Colorspace: RGB
Depth: 8/1-bit
Channel depth:
gray: 1-bit
alpha: 1-bit
Channel statistics:
Gray:
min: 0 (0)
max: 0 (0)
mean: 0 (0)
standard deviation: -0 (-0)
kurtosis: 0
skewness: 0
Alpha:
min: 0 (0)
max: 255 (1)
mean: 34.7902 (0.136432)
standard deviation: 87.528 (0.343247)
kurtosis: 2.48763
skewness: -2.1184
Alpha: none #00000000
Histogram:
66322: ( 0, 0, 0, 0) #00000000 none
10478: ( 0, 0, 0,255) #000000 black
Colormap: 2
0: ( 0, 0, 0,255) #000000 black
1: ( 0, 0, 0, 0) #00000000 none
Rendering intent: Undefined
Interlace: None
Background color: black
Border color: rgba(223,223,223,1)
Matte color: grey74
Transparent color: none
Compose: Over
Page geometry: 320x240+0+0
Dispose: None
Delay: 20x100
Scene: 0 of 3
Compression: LZW
Orientation: Undefined
Properties:
date:create: 2011-01-19T11:03:09-08:00
date:modify: 2011-01-19T11:03:09-08:00
signature: 9beeece335618c22906f85e124a6625963de1389edde28ae0c3d6018080bf59f
Artifacts:
verbose: true
Tainted: False
Filesize: 7.49KBB
Number pixels: 76.8KB
Pixels per second: 1.536MB
User time: 0.030u
Elapsed time: 0:01.049
Version: ImageMagick 6.6.7-1 2011-01-15 Q16
http://www.imagemagick.org
... for two other frames