I have created a simple project, added video overlay with alpha channel. But the video is played in black and white mode with transparency.
Used default settings in new Wikitude studio. Video converted using Handbrake with settings suggested here: https://www.wikitude.com/external/doc/documentation/latest/android/workingwithvideos.html#supported-video-codecs
Could you please send me your video so I can test it on WIkitude Studio?