The figure has magnets built in rather than joint controlled morphs in many places.  What you do is:

• Load the V4 figure
• Load the clothing figure
• Conform the clothing
• Select the clothing
• Run the "magnetize clothing" pose

This pose makes the magnets built into the V4 figure apply the same deformation that they do on the figure, to the bodyparts named in the "Magnetize to V4" pose.  The reason for multiple versions is in the case where you have multiple copies of a V4 figure loaded, as Isaoshi points out.

My Freebies