That LifeHacker article seems to point to the easiest way to get OS X running on a virtual machine although it's not 100% certain if the emulations virtual machine software provide will do the trick. I will have to test it out if I ever get myself some OS X software or do some development for OS X.

I agree that it would probably be breaking the EULA for OS X but this just seems as illogical as when Microsoft said you couldn't use virtual machines to run Windows and later reversed their decision. If Apple wants a better chance of taking over the operating system market share, the least they could do is make it easy for developers to run OS X on a virtual machine so that you don't have to buy an Apple machine just to run OS X. It also makes life easier for programmers so that you don't have to double/triple boot your system or you don't care to switch over to OS X when you already like the operating system you have.

Apple should follow the foot steps of Microsoft and release their own version of VirtualPC along with providing demo virtual machine images for OS or support the open source VirtualBox project.

Since I've been playing around with Microsoft VirtualPC and the open source VirtualBox, I've noticed that they support hosting Windows, Linux and OS/2 as guest operating systems. What's missing in this picture is OS X. I've not heard of anyone running OS X on a virtual machine so I am wondering if it is possible to do it.

It's quite possible that OS X has been crippled by Apple to only run on hardware that contains one of their chips that say it's an Apple machine and I fear that this is a very high possibility from my knowledge. OS X uses the PC architecture so there is no real reason it can't run in a virtual machine.

Any one know?

From my experience, Word 2007 does support transparency in PNG images and it also has a transparency tool that lets you select a color in your image and use that as the transparency mask.