Dual

I think I'm actually experiencing something similar. It seems every material that has some sort of alpha to it isn't properly making use of that alpha and instead is just using whatever color I have selected. I feel like this is going to be an obvious thing that I'm missing but yeah. Here is an image to better show what I mean. On one hand, the smart material preview is showing what I am expecting will happen, while on the right shows what is actually happening. It happens regardless of the color I chose. This happens with all dusts, paints or leak default smart materials.