[css] What is the opposite of :hover (on mouse leave)?

Just add a transition and the name of the animation on the class inicial, in your case, ul li a, just add a "transition" property and that is all you need

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ul li {_x000D_
    display: inline;_x000D_
    margin-left: 20px;_x000D_
}_x000D_
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ul li a {_x000D_
    color: #999;_x000D_
    transition: 1s;_x000D_
    -webkit-animation: item-hover-off 1s;_x000D_
    -moz-animation: item-hover-off 1s;_x000D_
    animation: item-hover-off 1s;_x000D_
}_x000D_
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ul li a:hover {_x000D_
    color: black;_x000D_
    cursor: pointer;_x000D_
    -webkit-animation: item-hover 1s;_x000D_
    -moz-animation: item-hover 1s;_x000D_
    animation: item-hover 1s;_x000D_
}_x000D_
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@keyframes item-hover {_x000D_
    from {_x000D_
      color: #999;_x000D_
      }_x000D_
    to {_x000D_
      color: black;_x000D_
      }_x000D_
}_x000D_
    _x000D_
@-moz-keyframes item-hover {_x000D_
    from {_x000D_
        color: #999;_x000D_
      }_x000D_
    to {_x000D_
        color: black;_x000D_
      }_x000D_
}_x000D_
    _x000D_
@-webkit-keyframes item-hover {_x000D_
    from {_x000D_
        color: #999;_x000D_
      }_x000D_
    to {_x000D_
        color: black;_x000D_
      }_x000D_
}_x000D_
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@keyframes item-hover-off {_x000D_
    from {_x000D_
      color: black;_x000D_
      }_x000D_
    to {_x000D_
      color: #999;_x000D_
      }_x000D_
}_x000D_
    _x000D_
@-moz-keyframes item-hover-off {_x000D_
    from {_x000D_
        color: black;_x000D_
      }_x000D_
    to {_x000D_
        color: #999;_x000D_
      }_x000D_
}_x000D_
    _x000D_
@-webkit-keyframes item-hover-off {_x000D_
    from {_x000D_
        color: black;_x000D_
      }_x000D_
    to {_x000D_
        color: #999;_x000D_
      }_x000D_
}
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<ul>_x000D_
    <li><a>Home</a></li>_x000D_
    <li><a>About</a></li>_x000D_
    <li><a>Contacts</a></li>_x000D_
</ul>
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