alot depends on what exactly you mean by "fade"
FM has a feature where you can show/hide layout objects based on a calculation and you can set the calc to show for a specific acct or user.
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You could possibly have a PNG with alpha channel to overlay the graphic and shade it out and use a hide calc to turn it on and off. But there is no feature in the styles index to fade a graphic or field.
I have used a space character "label" that can be conditionally formatted to change the opacity. This effectively makes the overlay obscure (to varying degrees) the object underneath. Set the opacity of the object then conditionally format to hide when you want to see the "full effect".
NOTE: if using in Web Direct, overlays are not at all friendly.
HOWEVER, 'Opacity' may no longer be a setting available in the color picker depending on the OS.
This older thread discusses what was/is: