I figured out how to do it!!!!
I did a google search for making applications transparent.
formatting link
What I did was process an image in photoshop and then put TraxMaker in front of it. I then used the demo executable to set TraxMaker's opacity to around 145. I have to fiddle with the PhotoShop image to get it to match up to the TraxMaker grid, but once thats done I can draw right on top of it. My finished PCB won't be a PERFECT copy, but you won't be able to tell by looking at it.
Its easy to see in photoshop which traces have and have not been traced. They are highlighted when traced.
Its not as easy as I hoped it would be, but it will be fine since its free. ;)
Grant