i used to be able to animate opacity so that the the material will fade away, although every time i activate auto key, the opacity changer will not go to anything but 0 or 100.
Go to Track View - Dope Sheet and select the visibility track.
Choose Controller/assign... in the Track View menu bar.
Then u can pick ur controlletype for the visibility track...
u'll have to do this for all visibility tracks if the wrong type has been set on default...