Yeah, but with the new lua coding, you have direct material access to the pointers within c++.
Lua in skyline is hugely different now because of the new object pointers to direct c++ class instances. It means direct access and most if not all the relevant controls the classes contain inside c++. (Not every class is implemented, but once we have a majority of the data in lua, it could be considered a lua SDK for skyline with plans in the future to load Lua Dlls with other integrations or classes..

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So doing this in lua would not be as hard, as you would grab the actual material and just run a snippet of lua and fade the alpha around as you could with other properties. Not alot has been mentioned about this new lua system on the forums so far but its immensely powerful. I have even started a custom editor using the qt plugins for the vehicle editor and am controlling and entirely separate renderwindow, scene, node and model system purely in lua since the new lua object types allow mirror copying of c++ with a few key differences.
So to answer this one, i reckon it would be good to see it done on the new version once we have a final build. The current PBR material is just getting all the additions the old shader had but at the same time improvements to features like parallax occlusion mapping, wind animations etc.. not to mention but we are also going to be implementing tessellation using pn triangles into skyline. And these are just the tip of the iceberg for new skyline.. its taking time, but we hope to blow a few minds when we release lol

We are essentially calling this v2.0 skyline which would be gen3!