AE's default opacity blending is not linear!!!!!!!!!!!! That's what the Alpha Add belnding mode is for. That and of course you may simply need to change from premultiplied Alpah to straight or vice versa.
Thank you for your reply. I forgot to also mention that I am relatively new to After Effects.
I have tried changing the blend mode on the text layers to "Alpha Add" and rendered both straight and pre-multiplied alpha. I have also tried both straight and pre-multiplied alpha with the blend mode back to normal. So far nothing has worked -- the black text is still more transparent. Is there something else I should try?
When you say more transparent are you judging visually or actually measuring the alpha values?
Rick, I am judging visually.
I have since taken the cue from Mylenium, and I think the problem has to do with the fact that AE's default opacity is not linear and Premiere's is. When I change the sequence settings of Premiere and uncheck "Composite in Linear Color" the blacks of my clips match. Similarly when I change my Project Settings in AE and check "Linearize Working Space" the blacks appear lighter as they did when with the text only clip in Premiere. Since I am working with other editors that are using Premiere, I assume I should change the settings in After Effects to match Premiere (linear). Unless there is any reason I shouldn't do that?