As much as I hate self advertisement ... you should really take a look at oUF_Slim.
it has everything you mentioned
- a whitelist (filter) for raid, party and arena frames buffs and debuffs, which means it only shows what is contained in the list, everything else is hidden - you can add/remove buffs/debuffs, easily
- transparent bars @full health
- built in debuff highlight based on your class - aka "if you can dispel it, you can see it", you won't get "spammed" with that information if you are a rogue or something similar
EDIT:
Just checked the code, out of curiosity. The spell database alone has over 9400 lines of code. No idea if they parsed it in some way, but I doubt it. Since 4.x introduced/changed a lot of spell IDs, one would have to go through all that - approximately ~1600 spell IDs.
That alone is quite a bunch of awfully boring work. And than there's the gap between oUF 1.3 and 1.5...
