Perl (*nix), 54 bytes

sleep print"\x1bc",$-++%2?'\o/
_0_
':'_o_
 0
/ \
'while 1

(\x1b is counted as 1 byte but escaped for easier testing.) The above has been tested with Bash and shortened by another byte thanks to @Dennis!

Perl (Windows), 56 bytes

sleep print"\x1b[2J",$-++%2?'\o/
_0_
':'_o_
 0
/ \
'while 1

Thanks to @Jarmex for his testing and advice!