<shadow:x:y> Add a shadow to the text, displaced by (x, y).
<shadowcolor:RRGGBBAA> Sets the color of the text shadow.
^^from the tml wiki
so if you do something like
<shadowcolor:FAFAFA><shadow:5:5>apple
for text, it'll have a largely displaced whiteish shadow like this:

if you fill in the transparencey hex color slot or whatever its called (the AA at the end of RRGGBB) to "7D", it'll have a semi-transparent shadow like this:

with the torque markup tags looking like this
<shadowcolor:FAFAFA7D><shadow:5:5>apple
^^ note the extra 2 characters in the hex color code which defines the transparencey