Is it possible to use the animbrush to create an animated arrow icon?
Yes but typically, you would create a traditional animation in dogwaffle, perhaps 5 – 10 frames, and wiggle or move or turn that arrow which you have in the custom brush, using the brush manager too, and advance from one frame to the next until each frame is done. Then you could collect them all into an animated brush, so you could use that again in various settings and conditions.