Why won't my spray work?

[TheWarnman]

I've tried many times in-game, but it doesn't show up! Like I haven't sprayed it, when I have.
Here's a screenshot of the spray: (It's originally a .vtf file)

[img]http://img16.imageshack.us/img16/6003/56554795.jpg[/img]

And this is the .vmt:

"LightmappedGeneric"
{
	"$basetexture" "VGUI/logos/spycat"
	"$translucent" 1
}

[Campin Carl]

Save as .tga, skip the vmt.
Also, you didn't do all the alpha layer stuff would be my guess (that you can skip when doing a .tga)