Quick and dirty steps...

1. Launch Poser.
2. Load Victoria 3 (sr1.1).
3. INJect the morphs you want to use.
4. Spin up the values for the morphs to create your character.

For a character that uses body morphs, and sets any of them in the 'BODY' group:
5a) Remove all of the morphs deltas via the "! All Head Morphs" and "! All Body Morphs" pose in the "!V3 All Morphs REM" pose library folder (the values of the channels are not affected by these files and this will greatly impact the speed at which IPB will process the file). Save the character in your figure library.

For a character that uses body morphs, but none are set in the 'BODY' group:
5b) Save a pose with morph information.

For a character that uses only 'head' channels:
5c) Save a face file with morph information.

6. Launch IPB.
7. Select options from the Option Dialogs (default settings create character poses that are absolute; when the pose is applied, with the exception of expressions, everything that needs to happen in order to reproduce the character is done by the file being generated).
8. Open the file you saved from poser.
9. Make any manual changes (if you feel the need).
10. Save the file to the appropriate library

You now have a file that is readScript equipped. Start anew in Poser and apply your new file to V3. The morphs will load and the dials will be spun up and you'll have your character all over again.

As for the thumbnail... currently it only precesses ascii text files (cr2/pz2/fc2). So, in short, it creates no thumbnail image. Will it? Honestly, all I can say is I'll look into it.

-Rob

P.S. I'm taking a break for a minute so I can go home... I'll check back once I get there.