http://bugs.winehq.org/show_bug.cgi?id=18144
--- Comment #3 from Michael Tramel miketrml@gmail.com 2009-04-28 09:21:35 --- Per the forum thread of this topic ( http://forum.winehq.org/viewtopic.php?p=23871 ), a user, jay, has helped in identifying this bug is worked around using WinME or lower for correct display.
I'm using Win98 as of current for Rainmeter's operation.
The bug still isn't "fixed", per say, as this appears to disable transparency entirely, loading the skin at 0% transparency and graying out Rainmeter's transparent options.