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No need to worry. Tweens and timelines are automatically made eligible for garbage collection (gc) when appropriate (typically when they finish but if you maintain a reference to an instance so that you can restart it later, for example, it won’t be gc’d out from under you). Basically the system manages gc for you and generally cleans up after itself.
requestAnimationFrame(when available) for maximum efficiency. See for yourself in Chrome Dev Tools - you should see very snappy performance in the timeline. Many other tools like jQuery UI use top/left properties for positioning which don't generally perform as well. These tools have been fully "GreenSocked" so performance is smoking fast, just like the core tweening engine.
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