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ICT in smart grid provides enormous opportunities for real-time and wide-area grid monitoring, protection and control. To this aim, synchrophasor technology was proposed for reliable and secure transmission of grid status information. IEEE C37.118 and IEC 61850-90-5 emerged as two well known communication frameworks for synchrophasor technology. However, literature lacks a comprehensive analysis of some key features and limitations. Further, knowledge of cyber vulnerabilities in both communication frameworks is still quite limited. This paper analyzes characteristics of both communication frameworks inferred from their complete implementation. In particular, it addresses their embedded features, required network characteristics/resources and their resilience against cyber attacks.