Thank you, this was exactly the info I needed!

Just tried a test of it and it works fine, no problems at all.   Here's what I did.

I imported V4 as instructed in the video.

I went to the mesh and selected just the head (selecting by vertex group which is preserved), inverted the selection and deleted the rest of the mesh.

I then scaled the head up 10x so I had something easy to sculpt on, did a simple and quick sculpt job.

Used Alt-S to remove all scaling and return the head to its original size (VERY important)

Exported it as an obj file according to the instructions in the video.  Blender 2.67b looks a bit different but the options are still there.  In the video he talks about using X90 Rotation, the newer Blender handles this a little differently, -Z forward Y up, which is the same thing so that part of the default setting is fine.

Went to Poser 6 and loaded V4.2

Selected her head, imported my simple morph and here's the result...

 

Everything worked beautifully.   I haven't tried doing a full body morph yet, I'm still learning about setting up / importing those into Poser, doing INJ/REM and all that, but that can wait til later (not really ready to dive into char modelling just yet, but perhaps in a few months).  But based on this it looks very promising and I think I will be able to use Blender to create some great new morphs, FBMs and characters in the future!

Thanks Lobo!  Happy rendering!