Can someone tell me the effect of Ghost Charm?

[TsReaper]

I'm doing some translation, and I'm translating the description of an item called Ghost Charm.

Description: A translucent, weirdly cool blob of living ectoplasm. Squeezing it makes you turn ghostlike!

If you want to get this item, you'll have to get S-rank in both Floor 5 and 6 in Arcade mode. I'm not very good at Arcade mode so I never have the chance to use this item. Can someone tell me the effect of Ghost Charm so that I can translate the description properly? Will the character turn into a ghost after using it?

 

[tkld178]

It will turn the user semi-transparent

 

[The G-Meister]

^ Basically that, as well as turning the character black and white. Here's an example:



Notice that you can see the bones behind him.