import bpy


class ModalTimerOperator(bpy.types.Operator):
    '''Operator which runs its self from a timer.'''
    bl_idname = "wm.modal_timer_operator"
    bl_label = "Modal Timer Operator"

    _timer = None

    def modal(self, context, event):
        if event.type == 'ESC':
            return self.cancel(context)

        if event.type == 'TIMER':
            # change theme color, silly!
            color = context.user_preferences.themes[0].view_3d.space.back
            color.s = 1.0
            color.h += 0.01

        return {'PASS_THROUGH'}

    def execute(self, context):
        context.window_manager.modal_handler_add(self)
        self._timer = context.window_manager.event_timer_add(0.1, context.window)
        return {'RUNNING_MODAL'}

    def cancel(self, context):
        context.window_manager.event_timer_remove(self._timer)
        return {'CANCELLED'}


def register():
    bpy.utils.register_class(ModalTimerOperator)


def unregister():
    bpy.utils.unregister_class(ModalTimerOperator)


if __name__ == "__main__":
    register()

    # test call
    bpy.ops.wm.modal_timer_operator()