I don't think animation speed is related to anything else, but its not like you can't set addEvent for the damage.will the projectile do damage at the right time?
For anyone interested in topic: Flatlander kindly responded to my messages and I have sorted this out. You have to download OTClient project, and change speed in missile.cpp file. If you want to make custom speed for every projectile you have to serialise it over network. In order to do that you need to download The Forgotten Server project and edit messages send to client then deal with those messages accordingly on client.
will the projectile do damage at the right time?
no need to think "can it be done", because we can, even if missile follows creature.I also think a system like this could be created in LUA.