I use my regular all crisco (modified Wilton) buttercream when doing the transfers. I don't see the point of making a seperate icing for it when what I use for everything else works just fine.
I use this recipe for everything - cakes, FBCTs, etc. I happen to use salted butter and 3/4 c of hi ratio shortening (Sweetex) but the 1 c regular shortening works fine also. I never have any problems with bleeding when I do FBCTs (but I do recommend using Americolor gels) and they don't stick to the wax paper at all.
http://forum.cakecentral.com/cake_recipe-1948-Butter-Cream-with-real-butter-for-decorators.html
Here's a FBCT thread that has a different recipe:
(Part Crisco, part butter.)
http://forum.cakecentral.com/cake-decorating-ftopict-2845-.html
(See squirrellycakes post)
HTH
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