I must be overlooking something obvious. The attached packed Blend File is simply a cube with two different alpha PNGs mapped to two different faces. In Textured View, one face is all black and the other face is white with the alpha overlay. Why the difference? I’m perplexed! The images also behave differently when used as image textures. The original PNG images are also attached to this posting. I used GIMP to create both images. They should both behaved the same! Right??
untitled.blend (199 KB)