Thanks Chirag Mehta for sending in mail about this wicked app!
This latest version remembers each window's transparency settings, allows you to keep any window on top, loads on Windows startup, beeps when glassify'ng a window, supports mouse and keyboard shortcuts, and allows you to customize these shortcuts. Read the Glass2k page for more details.
Please Note: Glass2k works only on Windows 2000 and XP. It will NOT work on Windows 3.1, 95, 98 and ME.
Download: Glass2k Beta version 0.9.1