So I've found some bugs with the Material tools for displacements if you are using a version of Max older than 3ds Max 2014. I'm addressing that today.
But in the long term, I'm looking into building some new Source Shaders in WW that accommodate things like multiblends and more. This will add some of the new capabilities in blend materials in CSGO. I'm also adding viewport preview of $blendmodulatetexture .