Not working, but here's a simple solution

It doesn’t work on customized sites, since JS is to strict on finding the image in child elements.

Solution (change script.js file to following):

jQuery(document).ready(function($){
	jQuery( 'ul.products li.pif-has-gallery a:first-child' ).hover( function() {
		jQuery( this ).find( '.wp-post-image' ).removeClass( 'fadeInDown' ).addClass( 'animated fadeOutUp' );
		jQuery( this ).find( '.secondary-image' ).removeClass( 'fadeOutUp' ).addClass( 'animated fadeInDown' );
	}, function() {
		jQuery( this ).find( '.wp-post-image' ).removeClass( 'fadeOutUp' ).addClass( 'fadeInDown' );
		jQuery( this ).find( '.secondary-image' ).removeClass( 'fadeInDown' ).addClass( 'fadeOutUp' );
	});
});

https://wordpress.org/plugins/woocommerce-product-image-flipper/