Marc, check out the the following sections in the PI online manual to see if they address you specific issue.
Tutorial 5 - sections Alpha Channel, Removing 'Dark' Halos and 'Create non-Intense'
but from what you've said you might be able to apply a 'blocker' in PI to mask off the area you don't want/need. See 'tutorial 4 - Blockers'. It may be what you need.
But I feel your pain though. I've only had a play with the trial version myself and the first thig I tried was to export from PI and then luma key the black background out in Premiere to overlay my 'effect' on my clip. Doesn't work at all by default does it? From the manual though, there is much that can be done to improve things. read the latter sections of tutorial #5.
Other than that then it's a case of moving from Premiere to After Effects for your compsiting where you have more control and different blend stlyles available. There's a substantial dollar value associated with this last option though