After searching for pausable timers for corona I found only several implementations. Beebe used enterFrame listener to implement his own timers and transitions. Transition manager has memory leaks and lacks some functionality. So I decided to wrap around existing corona timers and transitions into my own implementation.
UPD: Reposted to code exchange http://developer.anscamobile.com/code/pausable-timers-and-transitions-speed-adjustment [import]uid: 58303 topic_id: 11411 reply_id: 311411[/import]