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A characteristic feature due to the formation of a percolation phase transition of carriers has been observed in a two-phase system consisting of borosilicate glass with ZnSe quantum dots. For near-threshold quantum-dot concentrations, changes due to microscopic fluctuations of the quantum-dot density have been observed in the intensities of radiation emission bands. This phenomenon is reminiscent of critical opalescence, where similar fluctuations of the density of a pure substance arise near a phase transition. It is proposed that the dielectric mismatch between the matrix and ZnSe plays a large role in the carrier (exciton) delocalization, resulting in the appearance of a “dielectric trap” on the interface and the formation there of surface states of excitons. The spatial overlapping of states which occurs at the critical concentration of quantum dots results in carrier tunneling and the appearance of a percolation transition in such a system.