Thank you so much for your post. I guess by now you will have gone on to much better things since your post was May last year. However I am on the same quest.
I have vegas pro9 and Moyea MX5 Pro and would love to be able to create a walk on transparent background swf file to upload to the website.
I did not quite understand your explanation for this. I did create the .mov file as per your instructions in vegas and then put the file into Moyea MX5 Pro and set the video codec to Flash 8 alpha video. This then created a flv file which when played on a browser showed the alpha channel in grey. I guess I am getting there but of course I wanted the alpha channel gone altogether.
I was also unsure why you used another program (SwishMax 2) in the process since Moyea can create the file itself.
Would really appreciate your help .
Cheers
Ian