Here is my code for the fade transition.
I Used:
Image.CrossFadeAlpha (0, fadeInDelay, true);
Starting with a black background and the alpha set to 255, the command fades the alpha channel to the first variable passed over the time fadeInDelay and true to Ignore realtime.
I then check if the timeSinceLevelLoaded is greater then the fadeInDelay and deactivate the panel.
Enjoy,
John Cordeiro