gistfile1.js

/* @flow */
'use strict';

var mode = require('art/modes/svg')
var React = require('react-native');
var Art = require('ReactNativeART');


var {
  Surface,
  Shape,
  Circle,
} = Art

var {
  View,
  Text,
  Image,
  Animated,
  TouchableWithoutFeedback,
  NativeModules,
} = React

class Playground extends React.Component {
  constructor(props: Object) {
    super(props)
    this.state = {
      bounceValue: new Animated.Value(0),
    }
  }

  componentDidMount() {
    this.state.bounceValue.setValue(1.5);     // Start large
    Animated.spring(                          // Base: spring, decay, timing
      this.state.bounceValue,                 // Animate `bounceValue`
      {
        toValue: 0.8,                         // Animate to smaller size
        friction: 3,                          // Bouncier spring
      }
    ).start();                                // Start the animation
  }

  render() {
    console.log("Render Called");
    console.log(this.state.bounceValue);
    return(
      <TouchableWithoutFeedback onPress={this._onPress}>
      <Animated.Image                         // Base: Image, Text, View
        source={{uri: 'http://i.imgur.com/XMKOH81.jpg'}}
        style={{
          flex: 1,
          transform: [                        // `transform` is an ordered array
            {scale: this.state.bounceValue},
          ]
        }}
      />
      </TouchableWithoutFeedback>
    )
  }

  _onPress() {     // Start large
    this.state.bounceValue.setValue(0.5);
    Animated.spring(this.state.bounceValue,                 // Animate `bounceValue`
      {
        toValue: 0.8,                         // Animate to smaller size
        friction: 1,                          // Bouncier spring
      }
    ).start();
  }
}

module.exports = Playground

Line 47 needs to be:

<TouchableWithoutFeedback onPress={this._onPress.bind(this)}>