Boris is offering Particle Illusion StandAlone only, for free! Get it before they change their mind.
When you open it, you will also be offered a bunch of free templates. Get that too!
I did a quick test and rendered to the default mov format. I imported it into VPX (should work the same in MEP) and it comes in with a transparent background. It worked perfectly.
This is a great addition to the toolchest.
John CB