OK, I started this research as part of another Post, which was in itself a CallOut to others if they could replicate my observations when using the Reverse option in the Drop Down Event Menu.
Observation: When "Reversing" a Rendered MagicYUV RGBA the media would go AWOL.
Outcome: Today I've been in touch with the author of MagicYUV, Balázs Oroszi, who has told me this:
The reversing bug affects the MagicYUV Vegas Pro PLUGINS. It happens with VP17 (build 455), VP18 (build 527), VP19 (build 424).
Also this:
As an additional note I couldn't find anything in the plugin SDK with regards to reversing, and my plugin logs show nothing special either. The reversed media simply turns up as empty frame for me.
So, what I had unwittingly stumbled on was a Reversing Bug that needs the specific input from Team-Vegas to assist Balázs Oroszi. Needless to say, MagicYUV is mustard at rendering and produces ALPHA. If I wish to reverse that output then I'd need to reach out to VASST's Video Overlay, which will reverse nicely. The Reverse option in the Menu isn't at fault, rather it's the SDK for reversing that is at issue here.
I hope @VEGASDerek et al can asist Balázs Oroszi to get this to work.