This doesn't seem to work. Take a COLLADA phong effect as an example, transparency element is ignored. Strange is that COLLADA export does actually export this, but after importing this exported file, the transparency is gone.
- To Do
Collada bugs are not being handled well so far,
for this reason they are all being set as \'TODO\' and linked from our wiki page.
This tracker item can still be updated with useful info and closed (removed from the page above) when fixed.