Transparency on dark-fabric heat transfers

Is there any way to get transparency on a dark-fabric heat transfer short of cutting away the paper?

I want to transfer a logo that includes a color image (so I want the whites and light colors to transfer) and some unconnected text below - I want the colored letters of the text to appear right over the color of the fabric. It's impractical to trim the letters out and iron them on individually, but I don't want the white from the dark color transfer paper around the letters as that would look cheesy.

Any way to do this fairly easily using heat transfers?

Thanks.

-Jeb