DEV build of WW 2.742 (https://wallworm.com/projects/utilities/dev_wallworm_model_tools.zip) is up for testing next release. This update has many changes related to how VMT files are exported. I have done several tests but need some users to test it to make sure it doesn't break anything. Please test to make sure that your model VMTs and textures still export and work as expected. The changelog in the DEV zip has a list of new functions and fixes.
Please report your findings.