The overlay object needs a serious update. I doubt such a big update for the old object is good, so here are the plans for a more dedicated object focused on directly manipulating graphical surfaces, including ones with alpha channels.
Have a look at the actions and expressions
Feedback, ideas, suggestions, changes and anything is appreciated.
Also I don't know if I have time to make such an object, I just sketched out the most needed actions/expressions if I were to use the object