If you want to email me a sample of what you are having troubles with, I will give it a try and see if I can help. Just send the email from a link on my web site at http://www.stevengotz.com
Edit: Nevermind. I remember that problem now.
Just key it out separately as you have already done. Put it on its own sequence and you can key it out and then use the sequence like a clip.
Tried it here with a PNG and it worked fine.
He sent me the png and it doesn't work right in the titler but it works fine as a separate item on a track in the sequence.
I have been able to replicate the same issue by creating a Photoshop file. I typed the letter "e" and made it take up most of the frame. I then added a drop shadow.
Since the drop shadow is semi-transparent, it does not show up when the graphic is placed into the titler.
I vaguely remember it always being that way, but I can't be certain.
This is what the image looks like in Photoshop:
This is what it looks like on a track in Premiere Pro with a white layer behind it. As you would expect.
This is what it looks like inserted into the titler:
The part that was partially transparent is completely gone.
As I said, I remember it being this way but I don't remember if it was ever addressed. This has nothing to do with any format in particular. I used a Photoshop PSD file instead of a PNG so I know it has the necessary features to accomplish this task.
You were here in the forums the whole time I was gone. Do you remember anything about this?