Maybe the OGL implementation but also I think the new texturing paging is at fault, I rolled back to 8xxx driver series and no luck still the same transparency problems, but when I started playing around with more figures and features I noticed something, using the V3 changing ponytail 2 from DAZ if u get the preview resolution higher than 512 u get this:

and if u look into the materials room u see this:

for some reason P7 replaces the transparency texture for the diffuse one (o.O), and if u click on it to change it u notice the name and path of the correct texture for the transparency is there and even if u change the transparency to another texture the diffuse texture still replaces that ( _ _)

If I change preview to 512 or less I get back to what it should look like:

but then again that would make it P6 preview and not P7 XD

However this not resolve the issues with eyelash and other trasparency problems with V3/V4, for both figures the eyelash will simply not show no matter what resolution I put in the preview slider, no problems with A3 or Terai Yuki tho, and with V4 the eye transparency of the "Sclera?" makes the eye completly transparent except for the iris and the pupil, but u can see inside V4 from the eye, this eye transparency bug also disappears but only if u set preview resolution to 256 or less ( °.°)

notice the ear tru the eye? (1024 preview resolution)

at lower preview resolutions u get it to look right (256 preview)
and gain no lashes for both (sigh...)

I have too the 93.71 driver for my GForce 5600 on Win XP pro, maybe one of those or all of em are at fault too, who knows XD