I only know how to do this in GIMP, but

Load it up in GIMP, go to Image->Mode->RGB to switch it to an RGB gif

Then go to Image->Mode->Indexed. Optimum palette will be selected by default and you get to enter in a maximum number of colors. The default is 255 or something but for this you need to go WAY down. Try something like 24.

Doing this basically cut the filesize in half without significantly affecting the quality of the art.

Now as for messing with the delay between frames, when you open it up in GIMP you'll see every frame of the animation in the layers window followed by (100ms) which is the delay before the next frame in milliseconds. Editing the name of the layer and changing the number before the ms will change the delay before the next frame. You should play around with this until you find a speed of animation you like. You can click on the little eye icon to the left of the layer name to display or not display that layer so you can see each frame individually.

When you're saving it make sure to export it as an animation in the dialogue that pops up. I don't think any of the other options really matter.

Here was my take on it: http://i.imgur.com/GJrCZ.gif

It's 20kb now due to less colors being indexed and has an 800ms delay on the first and sixth frames.

Oh I forgot GIMP has an optimizer under Filters->Animation->Optimize For GIF

http://i.imgur.com/PE4q4.gif weighs in at about 4.5kb. So that's ultimately about a 90% reduction in size from the original.

You are a life saver!

I do use Gimp, so you don't know how helpful this is!

I really can't thank you enought for all the help ;A;

Thank you Thank you Thank you!

I'm going to go back and rework some of my other icons thanks to you :D

No problem! Glad I could be of service :D

;A; THIS IS SO PRECIOUSSSSSSSSSSSSSS THANK YOUUUUUUUUUUUUUUU i love you babby <3 <3 <3 abububu

http://i.imgur.com/PE4q4.gif

Please use that one!

 luminaryhart Did magic and got it just the way I wanted it ;w;

Well awesome! I love teamwork!