Vaneras over at the EU forums has answered many rogues' prayers today:
We have just received some feedback from the developers regarding this issue and it is good news indeed :-)
The animators are currently working on completely new stealth movement animations to solve this issue. This basically means that the current "funny looking" stealth animations will be replaced with new better looking ones :-)
Currently this issue is expected to be resolved in patch 2.1, but there is a chance that the new animations will not be ready by that time, which may result in the fix being delayed for a later patch.
And shortly later, on why they weren't just restoring the old ones:
I think the animators felt like they wanted something new instead of reverting back to the old animations. Something awesome that wouldn't make it look like that you are moving too fast or too slow when being in stealth.
I remember the old "ice skating" animations quite well, and I do personally agree that they looked better than the current ones, but they still looked kind of silly IMO. :-)
I don't know anyone who likes the new animations, so I can't see why this is anything but welcome news.