Previous versions of NGUI allowed animating the mAlpha property, so the reason it shows up in the editor is probably because it was set up before updating.
I personally preferred it when you could animate it using the property in UIPanel.
I'd like to suggest these two improvements to make AnimatedAlpha a little nicer to use:
Add a [Range(0, 1)] tag to alpha so that you get a nice draggable interface in the editor
Add [ExecuteInEditMode] to the class so you can see fading changes while playing and debugging animations in the editor
Apart from some strange changes, recent updates have been great

I personally really like the addition of nested panels being affected by the alpha of its parent. Much needed addition!