Well, that did it for me. Sort of…
So, I haven’t been doing PNGs because they don’t seem to bring in their alpha channel, but clearly you did it so I gave it a shot. The only way I found of making it work was making a material, and setting the texture compression settings to alpha… and, well, making a material and using that. The results are fantastic, but I’m still confused because it seems like you’re not doing it this way.
Here’s a comparison screenshot with a texture setup with your settings, and with a material with only one setting change (compression to alpha, just so I could use the alpha channel in the material)
