This simple plugin for Sublime Text 2 provides contextual menues to modify the application opacity. This is only for Windows Operating System.
Tested only on Windows 7 64bits with SublimeText 2 64bits Buld 2181
You may install SublimeTextTrans via git with the below commands:
Windows
`git clone git://github.com/vhanla/SublimeTextTrans.git "%APPDATA%\Sublime Text 2\Packages\SublimeTextTrans"`
Or download directly from here http://dl.dropbox.com/u/9084974/SublimeText2Plugins/SublimeTextTrans.sublime-package (it is a zip file renamed)
You can either use the Preferences>Opacity submenu to set the opacity or you can use the hotkeys Ctrl+Shift+[1,2,3,4,5,6]
Victor Alberto Gil - Hope you like my work.