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This is a memory issue and in part Java's fault. When loading images, they have to be decompressed in order to be displayable (try to convert a JPG to BMP for comparing sizes). By default, Java only allocates 256 MB of RAM for it's heap memory, no matter how much is physically available. If this does not suffice for loading all frames, GiftedMotion will simply abort the loading process.
You can work around this by manually telling Java to reserve more memory. This means, having to start GiftedMotion from the commandline with the -Xmx512m parameter (the number is the amount of megabytes to allocate). Mind however, that GIF is not really a video format. The resulting animation will be equally huge.