Your comments

I'm not sure. I'm still using 4.6.2.
I'm having this exact issue right now and it's really a pain. Not sure how to get around it.
Just checking in here to see if anything has been uncovered about custom particle shaders. Having a vertex lit particle shader with depth blending would be extremely valuable to my project.
Yeah, the only default shader for particles that seems to accept lighting is the Particles/VertexLit shader. Perhaps you could point me in the right direction on how to recreate the vertex lighting seen in that default shader?
Just checking to see if this is something you've had a chance to investigate or not. I'm sure you've got plenty of other features higher on your priority list, but this one's pretty important to me.
Having the Vertex Color node linked in allowed the shader to work correctly with the color options in Shuriken, but the lighting just isn't right.