I've always exported the head from my morphed figure as an OBJ file, and then loaded it onto the new figure's head as a morph target. Just a thought--are you sure that nothing but the head is being exported? I've accidentally tacked the ground, a clothing item, or a prop onto my export more times than I can count. Always fun when I'm freaking out because my morph target won't load, only to realize that I accidentally added three extra objects into my "morph target" :blushing:

~*I've made it my mission to build Cyberworld, one polygon at a time*~

Watch it happen at my technology blog, Building Cyberworld.