I tried time and time again to get this to work. I watched plenty of tutorials but nothing was working. After working through this with a friend it was a simple name change. This may already be a known issue, but my file name had too many "0"s in it (pic 3) and C4D was not reading the PNG sequence I was using as animation. As soon as I loaded the texture and went to the animation tab and clicked calculate, the texture went yellow every time. See the second picture below. I tried moving the file location, copying files to the C4D structure and changing file names. The thing that worked is taking out almost all the "0"s (pic 4). This was a pain in the butt to figure out, so hopefully it helps others.