Quote - A morph in obj format should only contain the differences between the old shape of an object and the new shape. This is exactly the same information stored in any other format, say a CR2 or a so called "Injection".

Not true - a morph in OBJ format is a target, representing the point that the vertices have to move towards. For that reason it needs only vertex information in it, which is the usual way of preventing copyright infringement. CR2s and INJ poses contain deltas, which are the difference between the old and new shapes. Apologies for the technical digression, jedman - did you get enough information to answer your question? Peelo explained it the most simply, I think. Use the apply morph target procedure, and save the morphed character into the library if you want to keep it for future use.