I believe Denise Tyler wrote an extensive tutorial how to convert FaceGen morphs to V4 quite some time ago and it was featured at their website.  However, it involves creating a new face UV which would be very impractical for the casual user.  My suggestion, use other mesh programs to attempt the morphs you are interested to generate.  Unless you intend to devote a tremedous amount of time generating morphs of actual individuals (keep in mind legal issues using other people's likenesses), I wouldn't invest that much money into a standalone, single purpose application.