animating individual line and point type particle color/alpha?

I want to change the color and alpha of each point or line particle during its lifetime. For example, fade a line or point partcle to transparency when it dies. How can I do that?

This tut by Andrew on sparks should answer that:

http://www.blenderguru.com/videos/how-to-make-sparks/

One problem:
He uses Cycles Renderer. That doesn’t support points and lines which I need to use to export to another program.