I'm confused - according to the help file, the second parameter is the image number. So setting blend mapping on with 1,0,5 presumably tries to blend with image 0, which doesn't exist - no? In any event, it still doesn't work for me - if you care to check:
text 0,0, "make black and white checked texture"
box 20,20,70,70
box 70,70,120,120
get image 1,20,20,120,120,1
wait 3000
cls
text 0,0, "make red texture"
ink rgb(255,0,0),0
box 20,20,120,120
get image 2,20,20,120,120,1
wait 3000
sync on
make object plain 1,1,1
sync
text 0,0, "make plane"
sync
wait 3000
texture object 1,1
sync
text 0,0, "texture it with the black and white checked pattern"
sync
wait 3000
set blend mapping on 1,0,5
sync
text 0,0, "blend the texture with the red texture"
sync
wait 3000
set object transparency 1,1
sync
text 0,0, "make the object transparent"
sync
wait 3000
set alpha mapping on 1,50
sync
text 0,0, "set alpha mapping on"
text 0,20," - uhoh, it didn't work, and it lost its transparency."
sync
wait key
However, reading around the forums a bit, I discover that there are actually 5 parameters now: object,stage,image,texturecoordmode,blendmode. I've tried using this format by putting various different numbers in, but as I can't find any information on what the various modes mean/do, I'm rather lost.