Yep, that's how I added in the glossy look as well to my shots. Looks very nice Ultrashot!👍
Edit... Oh I guess you are Pink. You know you should'nt cheat, it never pays off!

(Just messin around there)
Oh, and to get the transparent look, you need to not mess with transparencies but make the background color of your presentation the same as the background color in the forum window. To copy the same color exactly, just hold control and print_screen and it will copy the image on your screen and then paste it on a new layer in Photoshop and use the eyedropper tool to copy the color exactly. That's a helpful hint in making those cool looking presentations.👍