Transparency question re: video

As per the tute here: Transparency

And this link ( Netscape users won’t see it I don’t think ): http://msn.foxsports.com
Wait for the page to load and you should see an embedded swf with a transparent bg of a woman in the bottom left of your browser window.

I’m wondering if they masked the bg in an editing proggy ( think green-screen ) and when imported into Flash that the flash movie with the video when exported and set to wmode=transparent would it in fact show up transparent except the part of the vid you want opaque?

Sorry if the wording is a bit fuddled.

Any help or suggestions would be greatly appreciated.
Thanks in advance.

Okay to lessen the request a little bit.

How to import the video, even embedded, to flash so the background is transparent.

I thought and tried to do layer mask in Flash but this would be way too time consuming, and plain unrealistic to get a fluid look.

I’m thinking now that it may be After Effects but seeing as how I just installed here at work and no-one in the office knows how to use it, I’m forced to teach myself a bit by reading the help files. :frowning:

So if any has even the slightest inclination or at least a suggestion it would be great.