I believe the purpose of WebVTT is not to be compatible with TTML, but instead provide a more generalized model for various other text track formats. Several of the features you mention are nice to have, but it is important to have data on how frequently they are used to assess their importance. For example, background colors and z-indices aren't features I (consciously) remember seeing a lot while watching video with subtitles.
Since Blink doesn't seem interested in having a TTML implementation, this thread may yield more productive results on the WebVTT or general text track mailing lists.
Thanks,
Peter