Thank you a lot Alex, now the picture is much clearer.
For starting, in my OpenGL-based VR runtime I just added the fourth component to glClearColor(r, g, b, 0) and... le MR sont fait!
On the Unreal side I'll need to go through an investigation since in an application using deferred rendering (and RT, I don't know if this matters), frames result in being fully filled by the passthrough video - maybe UE puts an invisible transparent envelope all around the scene that becomes an alpha = 0 for the MR passthrough. For now, just disable the MR flag in VBS.
Paolo