After a lot of Google searches, reading and demo downloads, I'm still somewhat confused concerning on the subject of converting clothing from one figure to another. What I'm looking for is a program that will allow me to transfer the morphs from a figure saved in pzz or pz3 format to the clothing I wish to use. So far, all I've been able to find are programs that are limited to loading cr2 files from basic figures that have had not been modified with the standard body morph expansion kits, like those available for the Victoria and Michael series from Daz..
Any suggestions or help would be appreciated.

crossdresser will convert clothes , and they had a plugin for some figures morphs.  There is also one at renderosity which says it will transfer morphs in clothing.

Wardrobe Wizard will do what you want. You are not limited to morphs that came with the figure. It will convert to any morphed version of a supported figure.

http://www.philc.net/WardrobeWizard.php

Wardrobe Wizard is included in Poser 8.

Morphing Clothes by Dimension3D will also do the job.

http://www.renderosity.com/mod/bcs/index.php?ViewProduct=64629&keyword=morphing+clothes

If you have Poser 8 Wardrobe Wizard is included, if not I highly suggest Wardrobe Wizard.  Go see Philc's link.  Sharen

I've downloaded the demo and gave it a try. Great program....seems to be just what I was looking for. Now I have to decide whether to upgrade to Poser 8 or purchase Phil's utility by itself. Thanks, Sharen.