VG.net version 4.0/3.0 contains bugs in the TranslucentForm class. It is difficult to change the form location and size programatically, unless you use the WindowOperation property on Elements.
This project contains a class called AdvancedTranslucentForm that fixes those problems. The class also contains a new method, FillScreen(), that makes the form fill the maxiumum space available on the screen, while preserving the aspect ratio of the top Picture.
AdvancedTranslucentForm Sample
Update:Version 4.1/5.1, released versions, fixed all known problems with TranslucentForm, and added new methods as well. With these new methods the amount of code in this sample can be reduced.