Something to do with flattening presets / PDF export settings? (Also tried exporting as EPS, BTW.)
Thanks,
Aaron
When I do that on a test file, and choose File > Open in Photoshop CS4, the resulting PSD file shows transparency.
Exporting as EPS ALWAYS flattens transparency. PDF 1.3 (Acrobat 4) flattens. PostScript flattens.
Many thanks!
Aaron