There's also the option of rendering to an offscreen graphics (Graphics.createArrayBuffer), setting .transparent=... to make a certain color transparent, and then rendering that to the screen (but only dithering when rendering to the actual screen is supported)
Espruino is a JavaScript interpreter for low-power Microcontrollers. This site is both a support community for Espruino and a place to share what you are working on.
I'm afraid there isn't a way to dither with transparency at the moment, no.
The best solution would be to create a dithered image that was transparent with https://www.espruino.com/Image+Converter then render that.
https://www.espruino.com/ReferenceBANGLEJS2#l_Graphics_drawImages does have some interesting filter options so you might be able to combine layers of images to do what you want?
There's also the option of rendering to an offscreen graphics (Graphics.createArrayBuffer), setting
.transparent=...
to make a certain color transparent, and then rendering that to the screen (but only dithering when rendering to the actual screen is supported)