team.
There are 3 options here:
1) Keep range (previous behaviour)
2) Seconds - allows a specified offset in seconds around current frame
3) keyframes - zoom to include a number of keyframes around the cursor
Options 2 and 3 have their own properties to tweak the behaviour and all
options can be found in User Preferences->Interface under the 2D
viewports section.
Number 3 will probably need some refinement so commiting here for the
hwoozeberry team to test first.