Only alpha values in the image are used to create the bar button image. Whatever image you provide is converted into a image with shades of white, based on the alpha values.
So given that your image is completely white it is clear you don't have any transparency.
The guidelines have this to say:
- Use the PNG format.
- Use pure white with appropriate alpha.
- Do not include a drop shadow.
- Use anti-aliasing.
- If you decide to add a bevel, be sure that it is 90° (to help you do
this, imagine a light source
positioned at the top of the icon).
- For toolbar and navigation bar icons, create an icon that measures
about 20 x 20 pixels.
- For tab bar icons, create an icon that measures about 30 x 30 pixels.
Note: The icon you provide for
toolbars, navigation bars, and tab
bars is used as a mask to create the
icon you see in your application. It
is not necessary to create a
full-color icon.
You can however use a custom view to get a full-colour image as this question shows:
http://stackoverflow.com/questions/1835260/can-i-have-a-uibarbuttonitem-with-a-colored-image
This is a bit over the top though and it would be best to stick to the guidelines and use a normal button with an appropriately formatted image.