Hi jeregonn,
If you're looking to animate the action for demonstration purposes, I think you could do this reasonably well in Autodesk Inventor. But if you're looking to test a design to see that the action of the blades meet your expectations, I think you'd want to use Simulation CFD:
http://www.autodesk.com/products/simulation-cfd/overview
Part of me thinks that you'd learn more about the lure design, by building a tank that you could control the flow rate in, and do some testing in real life though. Of course with the large blades you're talking about, and their wide rolling actions it might require a very large tank.
https://www.youtube.com/watch?v=6mIz3HncHTk
https://www.youtube.com/watch?v=MsNqUad2PVU
I hope this helps.
Best of luck to you in all of your Inventor pursuits,
Curtis
http://inventortrenches.blogspot.com
I'm even thinking that with CFD it would be tough to simulate the motion. CFD creates a "Box" around the object, this in effect becomes the "wind tunnel" to study the fluid/air flow around an object and not how the object will move inside of the flow.
Best would be to test in a tank at this point.