I have a situation where I have insert a .png image of a text box that is specialized for my video. It is a 1920x1080 .png image containing a black text box with grey borders (I do this because I have special curved effects at each end of the border with highlighs). I set the opacity to 70% (or anything less than 100%). The image shows the appropriate transparency for the box in the designer window. But when I return, the box is 100% opaque; it loses its tranparency. If I select designer again, it still shows 70% opacity.

As a work around, I put my text border image in a separate video layer and assign the 70% opacity to it. That seems to work ok, but I now have another layer to contend with.

Note: same problem happens if it is a .jpg image. Paul C