We study optomechanically induced transparency (OMIT) in a compound system consisting of coupled optical resonators and a mechanical mode, focusing on the unconventional role of loss. We find that optical transparency can emerge at the otherwise strongly absorptive regime in the OMIT spectrum, by using an external nanotip to enhance the optical loss. In particular, loss-induced revival of optical transparency and the associated slow-to-fast light switch can be identified in the vicinity of an exceptional point. These results open up a counterintuitive way to engineer micro-mechanical devices with tunable losses for e.g., coherent optical switch and communications.
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