Slideshow modules, PNGs and Internet Explorer 7+

A detailed version of this discussion can be seen at
http://forum.joomla.org/viewtopic.php?f=470&t=342835 but I wanted to post it
here since it seems to be a consistent issue with IE7.

Transparent PNGs work just fine in IE7... if they're static. But, as many
have seen, running transparent PNGs through javascript slideshows yields
horrible results. Another example of what I'm talking about can be found
here : http://forum.briask.com/viewtopic.php?f=3&t=12

I welcome any suggestions on a fix for this until IE8 fixes it permanently.
Is there anyone out there experiencing this who has found a fix?