True if the parts of the picture that are the color defined as the transparent color appear transparent. Use the TransparencyColor property to set the transparent color. Applies to bitmaps only. Read/write Long.
Remarks
If you want to be able to see through the transparent parts of the picture all the way to the objects behind the picture, you must set the Visible property of the picture's FillFormat object to False. If your picture has a transparent color and the Visible property of the picture's FillFormat object is set to True, the picture's fill will be visible through the transparent color, but objects behind the picture will be obscured.