@3dcheapskate There is a possibility that it's a game ready asset as some engines use the RGBA channels for supplementary maps, like normals. Open the original PNG in an image editor and look at the separate channels. If there are normal in the alpha slot, that would explain it looking normal when saved as jpg as jpg doesn't retain the alpha channel iirc.

-----sig-----
Daz, Blender, Affinity, Substance, Unity, Python, C#