From my recent experience with Shake, it seems that even if in LW the 'unpremultiply alpha' is selected, the alpha is always premultipled. It would be nice if exrTrader respected this setting 
I'll top it.
Instead of respecting it I'll add a checkbox in the processing tab of every layer, so you can un-premultiply separately (by the alpha channel in all cases).
Since I like to pick the nit: Actually it is not the alpha channel that is unpremultiplied, but the RGB channel that is processed.
Basically the colour is boosted by the difference of the current alpha value to the alpha being 100% opaque.
This in turn allows a compositing app to multiply the RGB by the alpha value and get the original colour.
I'll try to add it to the next release.
Cheers,
Mike









