Well, in PrPro, Transparency is shown as Black, and not as a "checkerboard," like with Photoshop. This is most readily seen, when one creates a Title. It will appear as a black background, which will be seen as Transparency, when it appears in a higher Video Track.
If your source material has an Alpha Channel, that will restrict the visibility. A PNG, TIFF, PSD, etc., with an Alpha Channel (same for Video), will have that Transparency, when used on a higher Video Track.
install windows via bootcamp... or use final cut... LOL
Sorry I'm not being helpful, just couldn't resist.
If you feel you desperately need it...take a screen capture from photoshop of the checkered bg and import that and put it on the 1st video track and lock it....
I wonder why Vegas uses a tranparent BG in an NLE? (I am sceptical of the fact)
You cant project or display "transparency" ie "nothing" ....so what is its pupose.
I totally understand the reason for transparency in PhotoShop , AEFX, Titler.
I do not think its transparant but just like in AE when you choose a checkered (tranparancy grid) BG instead of a black (or whatever colour) BG.