Fade out a material that has a texture

Ok what I am asking for is fairly simple however it is giving me problems. I have also seen similar questions asked but none of the suggestions have worked for me. I am trying to create a shock wave that expands outwards then fades away programaticaly. I am using this code:

 var Dammage : float = 1;        //How much dammage the projectile does on impact;
 var Speed : float = 1;            //How fast does the projectile move
 var Lifetime : float = 10;        //How long does the projectile last
 
 
 private var TimePassed : float = 0;
 
 function Update () 
 {
     transform.localScale += Vector3(Speed,Speed,Speed);
     TimePassed += Time.deltaTime;
     if(TimePassed >= Lifetime / 2)
     {
         //Fade Material
         renderer.material.color.a = 1 - 1 * TimePassed / Lifetime;
         Debug.Log("Should fade");
     }
     
     if(TimePassed >= Lifetime)
     {
         Destroy(gameObject);
     }
 }

This does not throw up any errors in the compiler nor at run-time, however it also has no effect. The material I am using is a "Unlit/Transparent" so it does have an alpha channel. However, it does also have a texture assigned to it that has its own alpha settings. Is there something special I need to do to get a material to fade out when it has a texture, or am I just doing something wrong?

Thanks in advance for the help : )