Shorah.
If you job with 3DS Max, i can help you.
First, you not use the Render Sprite, because that is only for the Proximity of the Lights. You most Use the Render Bilboard.
The secret is keep the Y direcion toward of the line of sprite. This because, after you addet in the Plasma engine the Bilboard sistem, it rolling the object around The Y. But you need to do another thing......You most keep the Z direction toward back to the visible Texture, or you cannot see the sprite into the game.
For to know the ortgonal coordinated about a single object, change the indication "VIEW" on the top, in "LOCAL".
And use it for to move and to oriented the object, because if you use the "VIEW" sistem, is possible it lost the correc coordinates.
And remember is better the Pivot Point is alligned to a limit to the plain you use for the Bilboard: this because the rotation start from the Pivot Point....If it is in the middle or in another position inside to the plane, the rotation result not normal.
After that, use the UVW coordinate for to the regolation of texture. Here there is the sistem who i have use for my age.
I hope this can help you.
If you use Blender, Sorry, i cannot help, because i have it, but i not understand how it can work....For now.
Shoah and good job.