Hi,
there is a bug with Cons (Transform) if you attach a Billboard (Transform) to it with Pixel space set. It then loses the (kind of magic) attribute which lets objects be transformed pixel-wise.
The big quad to the right should actually appear just as the red pixel quad in the middle (it has the same Transform plugged into it). See attached patch if you want to play with that.
As a related note:
I still find it a little weird that some magic seems to be transmitted along with transform matrices that is neither visible nor editable…
BillboardPixelConsBug.v4p (8.0 kB)