There is a note in ThemePark explaining why not to use transparency in the Indeterminate Progress Bar. (was it Max, that gave all those helping notes?)
I believe transparency can be used. However, some things need to be watched out for.
Transparency multiplies with time.
If there is a black pixel, set at 10% transparency, then as it moves, each frame percentage will add to the prevous frames percentage. 10% + 10% +10% + 10% +10% + 10% + 10% + 10% + 10% + 10% = 100% black.
As far as I can tell 0% or 100% transparency is ok to use.