Hi
VP version 5.03 DOES have a Fade problem noted above when a TRANSITION is used. (Fade or Crossfade)
HOWEVER ..I have just tested this with VP version 5.03 and even when the TRANSPARENCY EFFECT is used, the fade-out behaves in exactly the same way as the FADE TRANSITION. i.e. It fades and then reappears again. So your observation is correct. Offhand I can't think of a way around that ☹️ except to try 6.01 (Or until NCH take a look. (I filed a bug report)
Using the Transparency method though does seem to work in VP version 6.01
Although your version of VP (5.03) does behave incorrectly, your reply I think suggests you didn't set it up correctly in any case..
" Ok so I tried adding Transparency (opacity) effect instead of the Fade transition for the final two seconds of each clip. I also staggered the text clips as suggested...to no avail. It's still fading to grey before disappearing. "
It's not the final two seconds of each clip.?
If you overlap the clips by, say by 2 seconds on the different overlay tracks as mentioned in the posts above , it's the LAST 2 seconds of the LOWER clip should have a fade-out of 2 seconds and the START of the UPPER clip should have a fade-in of 2 seconds. This means that one fades out as the other fades in.
Nat