The main one seems to be photoshop files import with pre-multiplied alpha - which means they look a little wierd.
But tiff files dont which means they composite OK in catalyst.
I have created and tested a few files.
1. Transparent text in photoshop - you have to remove any pixels in the background layer.
2. Transparent text in photoshop saved as a tiff with the setting in the last attachment
3. A blob or brush painting saved as a photoshop file
4. A blob saved as a tiff
5. text photoshop composite in pixelmad shows fringing meaning its pre-multiplied - not quite right
6. text tif composite doesnt show fringing
7. blob photoshop comp shows fringing
8 blob/tif comp doesnt.
9. tiff settings i used, showing transparency setting.