I have a .b3d character (mage) that I bought a while ago when working with another engine..
I have the 2 texture files (.png) - need to convert it to .mtrl
and a .b3d file
Can someone run me through the process or link me to a tutorial on how to do this?

So far when i open the .b3d file in the editor it has no colour

check this movie: http://www.esenthel.com/?id=tool/model_editor/materials