I created a lower third in Photoshop CS, added a layer for a gradient, saved the work with an alpha channel and opened the PSD in AE 6.5 Pro. There I animated the lower third, created a text layer where a rectangular mask revealed the person's name over the course of a second. I then saved all of this as an .AVI file and imported it into PI. I wanted to use the simple sparkles to help "reveal" the name and follow the mask I created. I was able to do all of this with relative ease... That was the setup and no here's the problem.
I created a really nice looking lower third and was able to output as both a .PNG sequence and a .JPG sequence. I put it back into AE to see how well it looked over footage and everything was fine. So, then I tried going into both Vegas and Premiere Pro and EVERY SINGLE TIME I put the lower third over the footage I get the lower third but I also get a Black background where the footage should be. I have told both Vegas and PP1.5 that there is an alpha channel, I have tried various blending modes with Vegas and I cannot get the lower third to look right at all in Vegas. I cannot find blending modes in PP1.5.
I know what you are all thinking... I should just use the footage from AE (and, I probably will) but then why did I buy Vegas and PP if I can't use them for what I want to help expedite the process. I have read books on alphas, watched Aahron's video with regards to alphas and outputs and am still experiencing this very frustrating result. PLEASE PLEASE HELP.
I figured the whole thing out finally. When I had posted this message I had been up for about 30 hours working on a project and didn't realize I wasn't changing the output in AE to Straight (instead of premultiplied) and as a RGB+Alpha Sequence. My bad.