I have tried both TGA and PNG files and verified that the images have Alpha that is visible in Photoshop, but in Panda, the cutouts around the leaves show as white.
Again, Im sure its something stupid and I allow at least 2 hours of digging through the docs and the forums before I ask.
Did you try to set your leaves semi transparent, or just for debugging the transparency ?
Do you know that the default transparency mode is MAlpha ? So try change it to be MDual :
I don’t know why MDual should work when MAlpha does not, unless you have nested transparency in your model: transparent parts viewed behind other transparent parts. Is this the case?