Compositions and methods for producing and using stable transparent to translucent unilamellar liposomal suspensions are described. The suspensions include a liposome preparation having a uniform plurality of unilamellar liposomal particles with a mean particle size between about 50 nm to about 290 nm. The particles are suspended in an external phase composition that has a density between about 0.95 g/cc and about 1.25 g/cc, and that is present in an amount between about 30% to about 75% of the weight of the liposomal suspension. The liposome preparation is formed from an aqueous liposomal solution that includes an oil-soluble composition and a water-soluble composition. The oil-soluble composition is present at a concentration between about 5% to about 33% by weight of the liposomal solution and the water-soluble composition is present at a concentration between about 67% to about 95% by weight of the liposomal solution.