Yeah I've tried it both with it in the lgp and not. I've also tried in the direct folder, but the only search it does is for ccha.tex within the direct folder. I've converted the png to a tex with textool when putting it in the direct folder, so I know the alpha channel has been preserved, it's just not applying it. I can send you the files if you think you might have an idea of what to do.
From looking at the app.log, I don't think it's searching the .hrc and .rsd files to see what texture to load, I think it's getting that information from somewhere else, otherwise it would show that it either succeeded loading ccha_00.png or failed, yet it shows nothing.