Tim is correct that the Transitions are pre-defined at this point. However, you should be able to achieve your scenario using Storyboard. There are probably several ways to do this, e.g. retemplating GridViewItem and adding new "Loading"/"Unloading" visual states. Here is a simple way to achieve your scenario by putting a Storyboard in the ItemTemplate:
MainPage.xaml:
<GridView x:Name="MyGV">
<GridView.ItemTemplate>
<DataTemplate>
<Grid Loaded="Grid_Loaded" x:Name="TemplateRoot" Opacity="0" Background="White">
<Grid.Resources>
<Storyboard x:Key="LoadedStoryboard">
<DoubleAnimation Storyboard.TargetName="TemplateRoot"
Storyboard.TargetProperty="Opacity"
BeginTime="0:0:1"
Duration="0:0:5"
To="1" />
</Storyboard>
</Grid.Resources>
<TextBlock Text="{Binding}" FontSize="24" Foreground="Black" Margin="40" />
</Grid>
</DataTemplate>
</GridView.ItemTemplate>
</GridView>
MainPage.xaml.cs:
private void Grid_Loaded(object sender, RoutedEventArgs e)
{
Storyboard sb = ((Grid)sender).Resources["LoadedStoryboard"] as Storyboard;
sb.Begin();
}
Example source code is hosted here:
https://github.com/finnigantime/Samples/tree/master/examples/Win8Xaml/GridViewItemLoadedUnloadedAnimations