I've noticed that when I use an image asset set to render as a Template Image, it's marked as red in the iOS simulator's Color Blended Layers analyzer (indicating that Alpha Blending is taking place). When I set it to render as Original Image, everything's green.
Is this a bug, or is there some trick to preventing alpha blending when using a Template Image (one that I hope doesn't involve caching a pre-rasterized variant of the image in the specified tint color)?