Hi Dan,
I once made a sort of flipbook animation which worked in the same way.
Some points of attention:
Create the board background.
Make the flips with their anchor point at the bottom
Place the flips 1 pixel above the background and turned 90 degrees up.
OR make the whole flips in Photoshop OR link text layers to them.
Animate a single flip layer and then duplicate it several times and offset those layers to form a flip sequence. Make sure that the layers that are later in time are on top of the other layers. (You can precompose this sequence to tidy up your main comp if you wish, but then you have to add the letters for the flip sequence in that pre-comp.)
A good way of doing a “flip through and stop” is to take the flip sequence and later in time put the flip (and letter) animation you want to stay visible later in time on top of that.
Put one or two lights facing the background on the top and bottom half, this adds shadow and makes the effect more realistic.
Turn on the motion blur.
You can make a standard flipthrough sequence or make every flip sequence “real”, depends on what you want exactly.
That’s all what I can think of now. It’s still early here 🙂
Good Luck!
Jerry