I haven't tried the new version of Telos as I only recently installed the PC version of TSL. I loved the Visual Enhancement textures for the first game and wanted to try them out in TSL. So far I really like them, but I've only gotten as far as Citadel Station and am also noticing transparency problems. A little research told me XnView can have problems with alphas and retaining transparencies, or the picture editing program you're using may not be properly applying transparencies? I don't know, but the burn marks in the Paragus mining tunnels are on big white squares, the asteroids are floating in a white square, and the leaves on the trees on Citadel Station are also attached to big white squares :P
Beautiful textures all in all, though, definitely an improvement. Even with the transparency issues it's still a step up from original, especially when you've played the xbox version to death over the last several years. Thanks for the awesome textures.
[Edit] Wound up going through the textures and re-exporting all the ones with any noticeable transparency with GIMP. Works like a charm, but I noticed the grass (on Telos at least) is too long. Looks like the texture map is wrong up and the grass gets chopped off in-game.