Hi John,
The only way to accurately achieve this effect would be to use a Green Screen (as known as Chroma Key). trakAxPC does not currently support the green screen / chroma key feature. We will be looking at including this feature further down the line in future upgrades, but there is no definite time set for this.
However, you can add, edit and play multiple clips on one output screen in trakAxPC. We call this feature “Collaging” and it is sometimes known as Picture-in-Picture. You can view a video tutorial on this feature and gives a great insight on how to implement it - http://www.trakax.com/software/wiki/Category:Collage_Feature/
However, trakAxPC does not support the ability to add transparent PNG’s in the current release.
We have a new free update for current paid users which is due extremely soon which will support transparent PNG’s and will also have many new features - http://www.trakax.com/software/about/weblog/category/development_roadmap/
I hope this helps,
Best regards,
Colm