I know you like to adjust the color in your creations.
FYI, Imgflip updated the site 2019-05-17 how user specified colors are stored. Now 3,4,6 & 8 character hexadecimal colors codes work, previous to that date only 3, 4 or 6 character codes were supported.
Basically what that means is transparency is also supported now for all the usual colors when you use 8 characters where the usual 6 character color code goes. Right now you have manually enter an 8 character color code, that might change if the Imgflip color picker is updated with a second slider or something like that.
The last two characters of an 8 character color code specifies 256 levels of transparency, 00 is fully transparent, FF is fully opaque.