this is a 'grey area' between a bug and feature request, putting it as a feature request right now since it does imply adding additional functionality to deal with the sequencing of messages listed below.
Currently in-order to take advantage of the periodic-announce option of Queues, the only GUI access is to associated an IVR with the queue. This does two things. It allows an queue to have a single digit breakout ability AND it allows the IVR's associated message to be played periodically. The typical example is 'keep holding or press 1 to leave a voicemail' or similar.
This also presents two limitations. You can't have a periodic announcement without creating an IVR, and on later versions of Asterisk (1.6.0+) you can list a series of announcements, when doing such, it will cycle through the announcements in order returning to the first at the end of the list.
Queues should be changed to accommodate this allowing an IVR option, and the announcement(s) listed separately. Migration is handled by simply moving the IVR and it's associated message into two separate fields. The multiple announcements will require additional gui work so that more fields can be added for the number needed.