There are some answers coming out of the woodwork and I find I'm not alone with the textures not applying when P7 library items are used. Some users are now posting band aid workarounds to the issue such as applying the textures in the material room or renaming the Cr2 files to lower case for P8 which apparently does not recognise Upper case letters in its file extensions. Until a bug fix service pack is released I feel we are in creative limbo. I really dont want to install all my desired files into Poser 7 and then have to repeat the procedure over again when P8 finally becomes useable. Basically I want everything to work seamlessly in one program, not by constanly opening and closing different versions. I work on graphics with PC's all day but I'm basically just the driver not the mechanic. If the machine is not working by the book, I have to call the testichological wizards to fix it. 
I did look into the external runtimes posts as a fix but the process was too tekkie for me and then thought I was pretty smart by installing P7 on a PC and then copying and pasting the runtime folder onto my external F drive. It worked ! ,until I tried unzipping and installing stuff to it.

Please Mr Smith get your finger out and get some major bug fixes happening.
Tommy.