I have at last figured out how Morphing clothes (from Renderosity) work and how to put motphs of a figure ito a piece of clothing.
Sometimes if you load a morphed figere (V4.2 morph) and you load clothing, it automatically fits 100%. Sometimes if you use clothes from V4 or V4.1 it pokes through, but even if you have loaded the morphs, it pokes through and then you have to add dial chanfes to get the perfect fit.
How do I prevent the clothing to go bonkers if you add a pose to the figures. I have made V4's head the parent of the hair, the chest the parent of the t-shirt, the abdomen the parent of the shorts and the feet the parents of the shoes. Nothing worked.
I am looking for a proper tutorial to solve this issue.

BTW: Morphing Clothes works. 

With V4, regardless of whether it fits after conforming, you still have to use the clothing magnets some of the time, that sorts any poke through out!

There are other ways of dealing with poke through, such as hiding the offending body part in the Hierarchy editor if it is completely under the clothing outfit, trousers for example, you wouldn't see the legs anyway so make them invisible in the Hierarchy!!

If you don't want to do that, sometimes using the scale dials or taper dial works just as well!!

Don't parent! Select the clothing item, then choose the Figure menu->Conform to, and select the Victoria figure from the dropdown dialog.
After you've conformed the clothing item to V4, go to the Pose library, the Magnetize Clothing subfolder, and double-click the first item - this will "magnetize" the clothing item to V4.

Except for the magnetizing bit, it's all in the manual.