NRStretch Issue?

I'm trying to use NRStretch, but I'm having an issue. I've looked it up and can't find anything that helps either. I'm using a tutorial from Tucknut, and while I get the logo to stretch over like I want it, it's not appearing as a transparent layer as it does in step ten of the tutorial. This is an issue for me as the logo I'm trying to stretch is white. Anyone know why this is happening?

I've had the same issue...would really like to know what the solution is.

Bumping this as it has not been answered to my knowledge.