MPEG-4 Requirements were updated in N14194 MPEG-4 Requirements, version 19 (San Jose revision) in order to accommodate additional material properties related to 3D printing (see update of MPEG-V Requirements).
The EU-project Reverie (according to a google search a synonym for a state of being pleasantly lost in one's thoughts; a daydream) proposes to extend the standard to coding of animated meshes allowing for variable topology of the mesh. At this point, MPEG-4 only supports coding of animated meshes with fixed topology. Given the limited use of MPEG-4 part 16 in industry and the appearance that this work is driven by an ongoing PhD thesis, there are serious concerns related to the need for standardization.