Masking specific color on texture applied
 

Is it possible to mask a specific color of a texture in such a way the color appears transparent when that texture is applied to a 2D object (quad, face,...)?

You can create a texture with alpha channel so that part of the texture is transparent.

To just make a certain color transparent you could do this with a simple shader. Take a look at the alphaMap example in the docs and the alphaMapper.frag program it uses for some ideas. Also, if you have Vizard 4 installed the shader documentation has been updated and may be helpful.