What i found out is the filter that windows applies to make pngs work is layed on top of the item you’re making transparent. so technically the clickable anchor is there, its just under it and you cant get to it. So i guess "killing it" is the wrong way to say it, but it definitely renders them useless.
if you need transparent png’s to act as any kind of navigation or links, you cant use the iepngfix.htc work around. What I’m having to do is create either gifs or jpegs and line them up perfectly and having them only available to ie6. everything else sees the pngs.