expression.TransparencyColor
expression Required. An expression that returns one of the objects in the Applies To list.
Example
This example creates a picture on the first page and sets the transparency color to black.
Sub SetTransparentColor()
With ActiveDocument.Pages(1).Shapes.AddPicture( _
FileName:="C:\My Pictures\Sample.gif", LinkToFile:=msoFalse, _
SaveWithDocument:=msoTrue, Left:=36, Top:=36)
.PictureFormat.TransparencyColor = RGB(Red:=255, Green:=255, Blue:=255)
End With
End Sub