Reggie.. yes.. anything that you can save/export as a dae, u3d, or obj can be opened in photoshop.  CS5 and later does it for sure; but, I'm not so sure about earlier versions.  Just too lazy to open them up since i have them back to cs2 on drive right now.  It supports diffuse, bump, trans(opacity), environment, reflection, illumination, gloss and shine maps as well as adding specularity, ambient color and refraction to any map.

You just gotta watch out because when you open your map from the interface it opens as a *.psb file which is photoshop's temp file type.  You can edit it as much as you want but when you're done editing you have to save it back as a jpg, tif, png or whatever your maps are.  Otherwise I'm pretty sure you're going to be losing your work.