Ok, i’m a moron. I was doing some very stupid things that I didn’t realise. I’ve now fixed it. Here is what was wrong:
1. In Vegas, I didn’t specify what the alpha channel was (right click on your imported media > Properties > Under alpha channel near the bottom, choose the type that you exported as – e.g. Straight, premultiplied etc.)
2. I was completely zoomed out in Vegas, meaning what I thought was moving one frame when pressing the right arrow key, I was actually skipping several frames due to the video being too long. I simply zoomed in the timeline and the entire animation played just fine.
So that’s that. I’ll leave this to help anyone else who may have this problem.