System Information
System Information
windows7 64
ASUS ATI Radeon HD6870

Blender Version
Broken: (All,but 35bc266 - special case)
Worked: (none)

Short description of error
in 35bc266:
if we create material, uv map with image
in multitex mode in textured and solid modes if we erase alpha will not see proper color of material
in GLSL textured, rendered,material - working properly

go to other(object, sculpt,edit) modes - we will not see alfa erase
if delete only material(not uv map) - we will not see transparent - error

in all official releases:
if we create material, uv map with image
in multitex mode in textured and solid modes if we erase alpha
we will not see alfa erase in either mode(sculpt,tex paint,edit)
if delete only material(not uv map) - we will see transparent - properly
P.S.
in all previews, icons - working normal.

Exact steps for others to reproduce the error

open this with 35bc266:
try to erase alpha, and change material color - we will not see changing in 3d view
go to other mode(object for example) - we will not see erased alpha
delete material - we will not see transparent - error

open with official release:
try to erase alpha and we will not see in 3d view results
switch between different modes(edit,object,sculpt) - we will not see result
delete material - we will see properly transparent