Breath of Fire IV transparent graphic problem

I tried that option and it worked, but now i got another problem. The sprites are somewhat off now. When Ryu/Fou-lu revert to their human form during/at the end of a battle, they just dissapear for about 5 seconds then I see the human form. Also (you'd have to play the game to understnad this) when Howling as casted at my characters, they are suppose to look streatched out but nothing happens. Is there an option I have to activate to makes the sprites animate things like that?

This is my GPU plug in config.

Pete's OpenGL Driver 1.76

Resolutions & Colors
-Window Mode (I never use Fullscreen, it doesn't seem to work)
-Window Size: 400 X 300
-Color depth: 16 bit

Textures
-Texture Quality: R8 G8 B8 A8-Best colors, more ram needed
-Texture Filtering: 6-Extended+smoothed Sprites
-Hi Res Textures: 1-2xSal
-Gfx card vram: 0 (Autodetect)

Framerate
-Show FPS display on startup
-Use FPS limit
-Auto-detect FPS/Frame skipping limit

Compatibility
-Off Screen Drawing: 3-Enhanced
-Framebuffer Textures: 0-Emulated Vram
-Framebuffer Access: 0-Emulated Vram
-Alpha Multipass
-Mask Bit (helped with the transparent images, thanks again for the info ^^)
-Advanced Blending

Misc
-Unfiltered Framebuffer Updates
-Color Dithering
-Special Game Fixes
-Odd/even bit hack (needed with epsxe 1.5.2 and older)

That's it.