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Texture Settings

Color, Specular, Environment, Luminance, Alpha

Export the Channel if it has a shader or texture map applied. See ExportingChannel for more information on what is supported for each channel.

Enable Basic Object Transparency

When enabled this will make any objects, that use a material with a Transparency Channel, 50% transparent in the viewport. It does not make any use of any of the values in the Transparency Channel at all.