No, it doesn't transfer shaders. To bad, but not really necessary. There is EZSkin or for other shader set ups, I still use BB's VSS system. I will say that this program transfers UVs in a fantastic manner. If the transition from V3 to V4 maps had been as nice in Texture Converter 2. Something like this should be built into Poser itself at some future date.

"A lonely climber walks a tightrope to where dreams are born and never die!" - Billy Thorpe, song: Edge of Madness, album: East of Eden's Gate

Weapons of choice:

Poser Pro 2012, SR2, Paintshop Pro 8