The Collaborative International Dictionary of English v.0.48:

Transpire \Tran*spire"\, v. i. [imp. & p. p. Transpired; p.
   pr. & vb. n. Transpiring.] [F. transpirer; L. trans across,
   through + spirare to breathe. See Spirit.]
   1. (Physiol.) To pass off in the form of vapor or insensible
      perspiration; to exhale.
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   2. (Bot.) To evaporate from living cells.
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   3. To escape from secrecy; to become public; as, the
      proceedings of the council soon transpired.
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            The story of Paulina's and Maximilian's mutual
            attachment had transpired through many of the
            travelers.                            --De Quincey.
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   4. To happen or come to pass; to occur.
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   Note: This sense of the word, which is of comparatively
         recent introduction, is common in the United States,
         especially in the language of conversation and of
         newspaper writers, and is used to some extent in
         England. Its use, however, is censured by critics of
         both countries.
         [1913 Webster]

WordNet (r) 3.0 (2006):

transpiring
    adj 1: that is passing through; "transpiring gas"