I've been thinking about something similar. I don't see how timed expiration would conflict with the two most important features - the filling mechanism and the replication of hot items. Am I missing something that would make timed expiration impossible?
Yeah on the first pass of the problem you seem right.
The CAS must have an authoritative node (my mind wanders thinking about replication and failover) but the key it protects - with the version baked in - can be replicated surely?