(I know I'm a whole year late, so I'm not sure if this is thread necro or if this is keeping the forum tidy)
GOS does support Live Wallpapers. The Breezy weather app does almost exactly what OP is talking about.
However...
Every time I reboot, the live wallpaper is lost.
Also, does the Live Wallpaper do anything with that weird six-color fingerprinting thing I heard about a while back? The one that looks at the two sets of three colors picked based on your home screen and lock screen?