Finally figured out transitions. The biggest issue was that it wasn't clear transition names had to be unique for the whole fragment. Now also chaining transitions for different effects.

app/src/main/java/com/magnatune/eyecreate/companionformagnatune/adapters/AlbumsAdapter.java

@@ -7,8 +7,11 @@ import android.os.Bundle;
 import android.support.v4.app.FragmentManager;
 import android.support.v7.graphics.Palette;
 import android.support.v7.widget.CardView;
+import android.transition.ChangeBounds;
 import android.transition.ChangeImageTransform;
+import android.transition.ChangeTransform;
 import android.transition.Slide;
+import android.transition.TransitionSet;
 import android.view.Gravity;
 import android.view.View;
 import android.view.ViewGroup;
@@ -47,6 +50,9 @@ public class AlbumsAdapter extends RealmBasedRecyclerViewAdapter<Album,AlbumView
     public void onBindRealmViewHolder(final AlbumViewHolder albumViewHolder, final int i) {
         albumViewHolder.artistName.setText(realmResults.get(i).getArtist().getArtistname());
         albumViewHolder.albumName.setText(realmResults.get(i).getAlbumname());
+        if (Build.VERSION.SDK_INT >= Build.VERSION_CODES.LOLLIPOP) {
+            albumViewHolder.albumArt.setTransitionName(realmResults.get(i).getAlbumsku());
+        }
         Picasso.with(albumViewHolder.itemView.getContext()).load(realmResults.get(i).getCover_small()).into(albumViewHolder.albumArt, new Callback() {
             @Override
             public void onSuccess() {
@@ -80,13 +86,15 @@ public class AlbumsAdapter extends RealmBasedRecyclerViewAdapter<Album,AlbumView
                 if (Build.VERSION.SDK_INT >= Build.VERSION_CODES.LOLLIPOP) {
                     fragment.setEnterTransition(new Slide(Gravity.BOTTOM));
                     fragment.setExitTransition(new Slide(Gravity.BOTTOM));
-                    fragment.setSharedElementEnterTransition(new ChangeImageTransform());
+                    TransitionSet sharedTransition = new TransitionSet();
-                    fragment.setSharedElementReturnTransition(new ChangeImageTransform());
+                    sharedTransition.addTransition(new ChangeImageTransform()).addTransition(new ChangeBounds()).addTransition(new ChangeTransform());
+                    fragment.setSharedElementEnterTransition(sharedTransition);
+                    fragment.setSharedElementReturnTransition(sharedTransition);
                 }
                 fragment.setArguments(args);
                 fragmentManager.beginTransaction()
                         .setCustomAnimations(R.anim.fragment_enter,R.anim.fragment_exit,R.anim.fragment_pop_enter,R.anim.fragment_pop_exit)
-                        .addSharedElement(albumViewHolder.albumArt,"albumart")
+                        .addSharedElement(albumViewHolder.albumArt,realmResults.get(i).getAlbumsku())
                         .replace(R.id.fragment_holder, fragment, "tracks")
                         .addToBackStack("tracks")
                         .commit();

app/src/main/java/com/magnatune/eyecreate/companionformagnatune/adapters/ArtistsAdapter.java

@@ -4,8 +4,10 @@ import android.content.Context;
 import android.os.Build;
 import android.os.Bundle;
 import android.support.v4.app.FragmentManager;
+import android.transition.ChangeBounds;
 import android.transition.ChangeTransform;
 import android.transition.Slide;
+import android.transition.TransitionSet;
 import android.view.Gravity;
 import android.view.View;
 import android.view.ViewGroup;
@@ -41,6 +43,9 @@ public class ArtistsAdapter extends RealmBasedRecyclerViewAdapter<Artist,ArtistV
     @Override
     public void onBindRealmViewHolder(final ArtistViewHolder artistViewHolder, final int i) {
         artistViewHolder.artistName.setText(realmResults.get(i).getArtistname());
+        if (Build.VERSION.SDK_INT >= Build.VERSION_CODES.LOLLIPOP) {
+            artistViewHolder.artistName.setTransitionName(realmResults.get(i).getArtistname());
+        }
         artistViewHolder.itemView.setOnClickListener(new View.OnClickListener() {
             @Override
             public void onClick(View view) {
@@ -50,13 +55,15 @@ public class ArtistsAdapter extends RealmBasedRecyclerViewAdapter<Artist,ArtistV
                 if (Build.VERSION.SDK_INT >= Build.VERSION_CODES.LOLLIPOP) {
                     fragment.setEnterTransition(new Slide(Gravity.BOTTOM));
                     fragment.setExitTransition(new Slide(Gravity.BOTTOM));
-                    fragment.setSharedElementEnterTransition(new ChangeTransform());
+                    TransitionSet sharedTransition = new TransitionSet();
-                    fragment.setSharedElementReturnTransition(new ChangeTransform());
+                    sharedTransition.addTransition(new ChangeBounds()).addTransition(new ChangeTransform());
+                    fragment.setSharedElementEnterTransition(sharedTransition);
+                    fragment.setSharedElementReturnTransition(sharedTransition);
                 }
                 fragment.setArguments(args);
                 fragmentManager.beginTransaction()
                         .setCustomAnimations(R.anim.fragment_enter,R.anim.fragment_exit,R.anim.fragment_pop_enter,R.anim.fragment_pop_exit)
-                        .addSharedElement(artistViewHolder.artistName, "artist_name")
+                        .addSharedElement(artistViewHolder.artistName, realmResults.get(i).getArtistname())
                         .replace(R.id.fragment_holder, fragment, "artist")
                         .addToBackStack("artist")
                         .commit();

app/src/main/java/com/magnatune/eyecreate/companionformagnatune/fragments/AlbumFragment.java

@@ -1,6 +1,7 @@
 package com.magnatune.eyecreate.companionformagnatune.fragments;
 
 import android.graphics.drawable.BitmapDrawable;
+import android.os.Build;
 import android.os.Bundle;
 import android.support.annotation.Nullable;
 import android.support.v4.app.Fragment;
@@ -73,6 +74,9 @@ public class AlbumFragment extends Fragment {
     @Override
     public View onCreateView(LayoutInflater inflater, ViewGroup container, Bundle savedInstanceState) {
         final View v = inflater.inflate(R.layout.fragment_album, container, false);
+        if (Build.VERSION.SDK_INT >= Build.VERSION_CODES.LOLLIPOP) {
+            v.findViewById(R.id.album_cover).setTransitionName(getArguments().getString(ARG_ALBUM_ID));
+        }
         ListView listView = (ListView) v.findViewById(R.id.album_tracks);
         Album currentAlbum = db.where(Album.class).equalTo("albumsku",getArguments().getString(ARG_ALBUM_ID)).findFirst();
         ((TextView)v.findViewById(R.id.album_name)).setText(currentAlbum.getAlbumname());

app/src/main/java/com/magnatune/eyecreate/companionformagnatune/fragments/AlbumsFragment.java

@@ -5,13 +5,19 @@ import android.content.Context;
 import android.content.Intent;
 import android.content.IntentFilter;
 import android.os.AsyncTask;
+import android.os.Build;
 import android.os.Bundle;
 import android.support.annotation.Nullable;
 import android.support.v4.app.Fragment;
 import android.support.v4.content.LocalBroadcastManager;
+import android.transition.ChangeBounds;
+import android.transition.ChangeImageTransform;
+import android.transition.ChangeTransform;
+import android.transition.TransitionSet;
 import android.view.LayoutInflater;
 import android.view.View;
 import android.view.ViewGroup;
+import android.view.Window;
 
 import com.magnatune.eyecreate.companionformagnatune.R;
 import com.magnatune.eyecreate.companionformagnatune.adapters.AlbumsAdapter;
@@ -42,7 +48,6 @@ public class AlbumsFragment extends Fragment {
     @Override
     public View onCreateView(LayoutInflater inflater, ViewGroup container, Bundle savedInstanceState) {
         recyclerView = (RealmRecyclerView) inflater.inflate(R.layout.fragment_albums,container,false);
-
         recyclerView.setOnRefreshListener(new RealmRecyclerView.OnRefreshListener() {
             @Override
             public void onRefresh() {

app/src/main/java/com/magnatune/eyecreate/companionformagnatune/fragments/ArtistFragment.java

@@ -1,5 +1,6 @@
 package com.magnatune.eyecreate.companionformagnatune.fragments;
 
+import android.os.Build;
 import android.os.Bundle;
 import android.support.annotation.Nullable;
 import android.support.v4.app.Fragment;
@@ -44,6 +45,9 @@ public class ArtistFragment extends Fragment {
     @Override
     public View onCreateView(LayoutInflater inflater, ViewGroup container, Bundle savedInstanceState) {
         View v = inflater.inflate(R.layout.fragment_artist,container,false);;
+        if (Build.VERSION.SDK_INT >= Build.VERSION_CODES.LOLLIPOP) {
+            v.findViewById(R.id.artist_name).setTransitionName(getArguments().getString(ARG_ARTIST_NAME));
+        }
         recyclerView = (RealmRecyclerView) v.findViewById(R.id.artist_albums);
         Artist artist = db.where(Artist.class).equalTo("artistname",getArguments().getString(ARG_ARTIST_NAME)).findFirst();
         ((TextView) v.findViewById(R.id.artist_name)).setText(artist.getArtistname());

app/src/main/res/layout/fragment_album.xml

@@ -12,8 +12,7 @@
         <ImageView
             android:id="@+id/album_cover"
             android:layout_width="match_parent"
-            android:layout_height="wrap_content"
+            android:layout_height="wrap_content"/>
-            android:transitionName="albumart" />
 
         <TextView
             android:id="@+id/album_name"

app/src/main/res/layout/fragment_artist.xml

@@ -8,7 +8,6 @@
         android:layout_margin="10dp"
         android:textStyle="bold"
         android:textSize="20sp"
-        android:transitionName="artist_name"
         android:id="@+id/artist_name"/>
     <TextView
         android:layout_width="match_parent"

app/src/main/res/layout/listitem_album_card.xml

@@ -13,7 +13,6 @@
             android:layout_height="180dp"
             android:layout_gravity="center"
             android:scaleType="fitCenter"
-            android:transitionName="albumart"
             android:id="@+id/album_art"/>
         <LinearLayout
             android:layout_width="match_parent"

app/src/main/res/layout/listitem_artist.xml

@@ -9,6 +9,5 @@
     <TextView
         android:layout_width="match_parent"
         android:layout_height="match_parent"
-        android:transitionName="artist_name"
         android:id="@+id/artist_name"/>
 </LinearLayout>