marcboy, a couple of points:
The Custom tool isn’t part of the base DFX+. As an “advanced” tool, it comes with Module 1. Luckily, Module 1 is apparently included in the LW8 bundle
You could perform the same operation with 3 Channel Booleans instead; it might even be faster. See attached flow.
Second, rendering against black generally IS desirable… you can normally take a render over black with combined alpha and comp it straight on, nothing extra required. If you’ve rendered against black and you’re still getting black fringing when you comp it on, there may be some problem with mismatched alpha (e.g. the alpha fringe extends out further than the colour edge), or the merge process is wrong for the images (e.g. using Subtractive merging with premultiplied images).
It could just be the mismatched positioning and low JPEG quality, but I had some trouble trying to get the example pics you posted to give good results - the blurred sphere seems somewhat less blurred in the alpha channel than in the colour channels, which defeats the unmerge process.
As for Lightwave and premultiplied images, if Lightwave will produce an image with antialiased colour edges on a black background and antialiased alpha, that should effectively be a “premultiplied” image. The colour channel values should be no greater than the corresponding alpha value (and transparent areas are therefore black), which is what you would get if you multiplied a non-antialiased image by its alpha.