This is actually the second time I've been a finalist for a Fulbright (I was named an alternate for a full grant last year), and I think sharing the sequence of events during my last wait-period might help??
Jan : Notified as a finalist--I sent in all of my transcripts right away.
March (early): I was contacted to let me know that they never received one of my transcripts. I overnighted a new copy, and a representative confirmed that it had been received.
April (4th): Notified as an alternate.
May: For whatever reason, they contacted me again (this time as part of a mass mailing) to let me know that all of my transcripts had been received.
So I guess this is just to say that I'm not sure investigations into missing transcripts reflect where they are in the selection process. It's certainly possible that it's different for every country, though! Good luck to you!!
Also, are there any other past alternates out there who are reapplying? Has anyone heard tell of alternate-turned-scholar success stories (or otherwise!)?? It's just as nerve-wracking the second time around!
