An alpha channel is 256 tone greyscale image. Photoshop is full of these things. One gets created everytime you make a selection and colours are defined in terms of them. Pure black in an alpha channel hides the image. Pure white reveals it.
Intermediary tones make it more or less visible.
It should look like a black image with the parrot as a white silhouette. Go to channels to check it. The white means that the parrot will be visible while the black part of the image will be hidden. Flatten it and save this version as png file Import it into Director and see how it composites against different coloured backgrounds. You may need to go back into Photoshop and tweak the alpha channel if it has a halo.