TIPS
 
ZOOM
Here is an idea for you and others...
One thing that I did not like about IA is the inability to zoom.

Try this and see if it helps...
When working in IA... set your screen resolution down.  It makes everything
big...
When done playing ... reset your screen resolution.  Hey it worked great for
me...

You may find resetting your resolution to a lower setting will make the program larger so your work is easier to do. 
 
To reset the resolution, Right Click your desktop in an empty spot and choose properties. 
Click the Settings tab and lower the resolution. 
Click apply and ok. 
Create your image in IA, once done, reset your resolution back to what it was.

TRANSPARENCY
 
Basically.... the mask color is your transparency.  If its bright yellow, any spot is that color will be transparent.
Using the Mask as the color for tranparency.
My mask is set to black.
in PSP I created a canvas 32x32
opened my tubes and pasted a flower
I copied the flower

In IA
I click File/Import from Clipboard and clicked arrow to accept
It shows up with a white background

I click the arrow bottom left corner to replace color and choose black
I click on all the white background and areas that I want transparent.

TADA... a transparent icon.
 

I am not sure how this would work in other animation programs so I cannot vouch for them.  But the animation program that comes with Paint Shop Pro will save any gif as an animated cursor.  Surprised?
 
Attached are some animated cursors I created working with pre-existing animations (gifs).
 
  1. Open your Animation Shop
  2. Click File/Open and choose your animated gif
  3. Click Edit/Select All
  4. Click Animation/Resize Animation and the highest number can be 64
  5. If you do not want to edit the frames skip the steps .... Now I save the file as a psp file by Click File/Save Frames As drop down the menu and choose psp
  6. Open Paint Shop Pro and edit each layer as desired.  It is a good idea to sharpen each layer as well.
  7. When done editing, save the psp file again replacing the old with the new.
  8. In Animation Shop close the existing animation choose no to save.
  9. Open the psp file in Animation Shop
  10. Click File/Save As and drop down the menu and choose animated cursor
  11. Open IA and click File/Open and open the animated cursor so you can set the hot spot.
  12. Save the ani
  13. test it, if its to fast... open the ani file in Animation Shop and Click Edit/Select All
  14. Click Animation/Frame Properties and set the speed to your liking and resave it as an ani file.
Again, the animated cursors were gif files I have collected over time and not created by me.  I only turned them into animated cursors.

IA Extras Open Icon Art Click Help then Icon Extras and Updates in the list you will see some stuff
Creating in PSP
 
For you PSP ers.... good news

You can create your cursor in psp on a canvas size 32x32 icons can be sized up to 48x48.
for animation use seperate frames...
Save the file as a psp file with all layers showing (not hidden)
Open Animation Shop
Open your psp file
Save as a .ani  file for animated cursors