I had to restrain myself earlier, but your post sums it up nicely.
I have made progress on the Photoshop front. I have CS3 (Photoshop 10) so I don’t know which other versions have it, but here is my quick beginners guide to putting in an on-screen graphic. (In my case I wanted a full page “Stream will commence shortly” holding page and a “Live” + Logo superimposed over the live video.) You do not need the black magic plugin installed for this to work.
1. Create a new file with the correct video resolution (720×576/480). If you don’t have the correct res, it won’t import the graphic.
2. Design the overlay that you want.
3. Make sure that anything you want is visible and anything you do not is not using the “eye” on the layer toolbox.
4. Select Window -> Actions. Open the Video Actions folder.
5. Click on “Alpha Channel from Visible Layers”
6. Press the “Play” button on the bottom of the actions window.
7. Press Continue, OK, OK.
If you select Channels you will see the alpha channel that you want.
Then save as a Targa file making sure that “Alpha Channels” is selected.
Select “Internal Key” on LiveKey and load up your graphic.
Hope this helps someone.
C.