Hello Boris, many thanks for the reply. Actually I do have the transparency working now. The mistake I made was thinking that was an adjustment that needed to be made from within Red itself. Although if I turn on the alpha channel of the clip in Vegas first, and then apply Red as a plugin, it works.
Now, the problem is that I’m now unable to open additional files with alpha channels in Red. Plus, I’m also getting an error telling me the codec isn’t supported, even though I’m still using the same Cineform format files. Anyway, I’ll make up a couple of really small versions of these video clips and send them off to tech support.
Ideally I’d like to composite around 4 or 5 clips with alpha channels within Red, along with a background clip and add any effects I need there. So within Vegas the composite will be a single clip I can edit more easily.