VSE - Why PNG 1 with transp under PNG 2 is not showing?

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1

I have PNG 1 on track 1, and PNG 2 above it on track 2. But only PNG 2 shows.
I chose Alpha Over for blending in Edit Strip for both.
Feel free to inspect the .blend file.

Thanks in advance guys

DPC

vse_test_279.zip (462.7 KB)

2

This has been answered at Blender StackExchange