Quote Originally Posted by jasonrudolph View Post
instead of saving as a psd, save the file as a png, you can do this in photoshop, just make sure transparency is turned on when you save the file.
the reason why photoshop .psd files should not be used- is that photoshop files have a non-transparent composited layer as the bottom layer - and the other layers on top of this.
quicktime displays this non-transparent layer by default.

the layer compositing modes in photoshop are proprietary - so a merged layer copy should be used - saved as a transparent tiff or png - as jason says.