The best way to do this is to modify the original V4 obj file in your modeling application, export it as an a renamed obj, make a copy of the V4 cr2 and change the obj filenames in the new cr2 to match your modified obj. From then on, all the morphs, etc wil be applied to your new base obj.

LIghtwave preserves all the material and body part groups. Many apps do not. If Carrera does not, you can use UVmapper to reapply the material and boby part information (just don't ask me how, but this is how richardson uses ZB to mode Poser objs.)

Let me know if you have questions!