Hey mate,
No the way it is done it can't be transparent. The scroller uses a DirectX screen and this screen can only be in a solid color. You'd have to go another way then using a Canvas Gadget or GDI or something. Never did that before, because I never needed it.
If the purpose for the wanted transparency is the fact, that you want to paint the scroller on your background picture where it's not just solid (i.e. on a gradient or something) you can do some trickery though to achive it:
You load the background picture as a sprite. Then clip the wanted portion of the pic:
CatchSprite(2,?Pic_1_Start)
ClipSprite(2,300 ,418,160, 20)
(...)
and then display it on your DirectX screen behind the scroller:
;ClearScreen($434343) ; <-- not needed anymore since the new sprite covers up the whole screen
DisplaySprite(2,0 ,0)
(...)
Not the most elegant way probably, but it works. I made an example, where I moved the scroller to the right over the 'team' logo so you can see it in action. I hope this is what you wanted to achieve. If not, just let me know. I might think of something else then...

Source + Exe attached in RAR archive
Pad

P.S. I also removed some useless lines of the scroller code in case you are wondering...