The wiki page simply says alphacut <value> with no hint of what <value> is.
First off, I tried setting it to 255, the palette index for transparency. When that didn't work, my brain decided to kick in and suggested it is an RGB value since def files handle 24-bit images, so I tried setting <value> to the following:
* 16515324 - the transparent colour is RGB 252,0,252 and 16515324 is (65536*252)+(0*256)+252
* 0xFC00FC
* FC00FC
* 252,0,252
* 252 0 252
Nothing works and I'm outa ideas what <value> could possibly be

TTFN,
Jon