Cross fade will not render

Hey,

We're editing in CS4, and at the beginning of our project we have a cross fade applied to a .png file - When we render this out, the fade is "overlooked" and the .png file jumps in immediately.

We tried to, instead, create this fade effect using opacity keyframes hoping to relieve the issue... but after rendering, the results were the same.

The thing that makes all of this especially interesting (and irritating) is that the effect does not show up while reviewing the .mov file in Quicktime, or in Preview... but the final render DOES show up if we drop the .mov file back into a Premiere timeline.

Any suggestions?
 
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