I don't see any comparison here on the impact of decompressing? Is this going to hit a processor harder than JPG/PNG/BPG/et al will, and thus be a hit to people on mobile devices?
The most relevant tradeoff calculation now would probably be bandwidth versus battery power consumption.
The FLIF image decoding library might want to be battery-aware, such that it can automatically scale back the power consumption at lower battery charge levels, in a user-configurable fashion. Or perhaps it caches a fully decompressed or partially decompressed file to storage, so that it only does the battery-devouring steps once.