Lf2's 'wait' option specifies for how long the frame lasts. But the unit is basicaly too large.
I've been through this for like tens of times. You need to specify if the frame goes for wait 1, 2, 3 etc. Usually if you set wait: 1 and attack is like 10 frames long, it will never be fast enough to be truly used properly. Also the animation looks slow. At wait 1 it looks silly and is too slow, at wait 0 it looks ridiculously fast.

The only solution which I see now is to use few frames in a row with same sprite with wait 0, but I'm not sure if this will work, that's specified by how the code reads wait:0 if it's in few frames in a row (i believe it just does not wait, but still goes up with 1 TU, which would be a solution actually). But that takes a lot more work (at adjusting for example) and space in the file (we've got frames limits, right).

That's more a DC problem, I know, but I was always set for spriting for LF2. So if we're animating we need to stick up to the lf2 engine rudiments...