Thank you for files.
I've checked data for material from the 1st screen. That's a MaterialInstanceConstant object. It doesn't have any information about transparency/opacity. Usually this information is used from "Material" object, which is used as template for MaterialInstance object. This material instance refers to MatTemplet0012A object, as could be seen in log:
check for MatTemplet0012A in Popori_F_H
WARNING: Import(S1_MI.MatTemplet0012A) was not found
Umodel tries to locate it in S1_MI package - I don't have that file. Perhaps, this "Material" stored in some package, which exists for most UE3 games, but with different names. For example, in Gears of War that's GearGame.upk, for Alice - AliceGame.u, APB - APBGame.u etc. You should find such package, and add it to the command line with "-pkg=<package_name>", so umodel could find that material there.
Most likely that material (MatTemplet0012A) contains some property specifying transparency mode, and in that case umodel could try to use corresponding blend mode.