I thought I did it in Blender 2.4 with Shape Key animation.
So I have no old Blender anymore and can’t look, how I did this. Something like this:
Simple plane, edit-mode, subdivide several times. Then Frame 0, set the Keys with “I”. Then Frame 10, change the mesh and store then Keys with “I”, and so an, till the Plane is furled or folded.
Somehow this will not work in Blender 2.6.