property must be set to True. Applies to bitmaps only. Read/write Long.
expression.TransparencyColor
expression Required. An expression that returns a PictureFormat object.
Remarks
If you want to be able to see through the transparent parts of the picture all the way to the objects behind the picture, you must set the Visible property of the picture's FillFormat object to False. If your picture has a transparent color and the Visible property of the picture's FillFormat object is set to True, the picture's fill will be visible through the transparent color, but objects behind the picture will be obscured.
Example
This example sets the color returned by the RGB function as the transparent color for shape one in the active document. For the example to work, shape one must be a bitmap.
blueScreen = RGB(0, 0, 255)
With ActiveDocument.Shapes(1)
With .PictureFormat
.TransparentBackground = True
.TransparencyColor = blueScreen
End With
.Fill.Visible = False
End With