Turbo Icon Editor is an icon editor, create, and convert tool.It's can creating, editing multipage ICO, CUR, eazy and fast. you can convert images (BMP, JPG, TIF, PCX, GIF, CUR, PNG, WMF, EMF, WBMP, TGA, DCX, CRW etc) to icons, and you can load icon from EXE, DLL formate. it support a lot of effects and filters, including showshadow, flip, rotate, gray scale, negative, contrast, HSV, HSL, RGB, user filter equalization ,bump map, lens, wave, morphing filters, FFT, gamma correction, sharpen etc .
It supports Windows XP icons in 32-bit color depth with an alpha channel, and you can convert a image to transparent icon very eazy! and now you can create semitransparent XP icons.