I noticed with using transparent walls some objects were not visible through the wall. see picture.
To overcome this you must place the transparent walls on the map at the end after every thing else is placed.
I later noticed if you use a different shader it seems to fix this issue. But I have not tested this 100% yet with all media.
So far the skyscroll_basic shader seems to work pretty good for glass and clear water.
The pictures of the glass walls have opacity set to 255,200,150,100,50,25,0. in the DXT5 texture, and transparency = 5 in the fpe.
The texture is a water ripple. That is the effect that's shown on the glass walls.
Still no luck with a realtime mirror effect yet, but I have achieved some good effects for water and glass, along the way.
I may be old, but at least my memory still ....hmmm
Pavilion dv6 Notebook, Intel(R) Core(TM) i5-2410M CPU @ 2.30 GHz, Win 7 64 bit, 16 GB Ram, Radeon (TM) HD 6490M, 2336 MB Memory. Resolution 1366x768, Intel(R) HD Graphics 3000. (WEI 5.8)