I'm not sure what Pat is getting at.  I don't think a morph will give you the action you want, and I doubt that's what he meant.  A morph doesn't have any way of recording rotation.  The beginning point and the end point would look alright, but it would only use a straight translation to get from one to the other.

Did you model it with the leg down, and then use the translations to give you a better starting point for the folding?  If so, this might fix it.

With the legs in the new position, export a new OBJ (leave export options as they are, and check the top box also).  BACKUP YOUR ORIGINAL FIRST.  Reopen Poser and load the object from the original CR2.  It will look like a mess, but that is to be expected.  Now zero your translations and rotations, and the legs should be where you intended.  Now try to rig it and it should react as you want.

John