There's currently a bug in the new version that fails to export the particle textures which is resulting in the 'square' particles you guys are seeing. This the editor not being able to find the proper texture as it's not being imported into the Starcraft 2 editor due to it not being exported by WMV. This should be fixed up in the next version.
If you're impatient you can manually export the TGA through the 'Export Textures...' option. I've looked over a few models and the M3 particles are very close to how the M2 particles look. A few minor things still need work but overall the particle conversion is looking great!
The spells will be the toughest to nail, but we'll keep working on it. Thank you for testing them out and providing feedback, I'll take a look at those that aren't working correctly and see what can be done.
Particle support extends mostly to creature models for the moment, with most of them looking aesthetically as they should. We'll continue to work on the conversion until it is as close to how the original M2 is as possible. Bare in mind ribbon effects are currently not supported. I've made some progress working out the ribbon structure, so hopefully in the future ribbon effects can be converted too.
Many thanks to chuanhsing and cutevisor who are doing all the code additions.. They're working really hard updating the code and alot of effort has been put in to get it right. Thanks guys :D.
Just some quick corrections you may want to make concerning attachments. (not very high priority but it shouldn't be too much effort to fix).
I have looked over some of the attachment points that are coming out of the export process, for the most part, everything seems to be working fine.
However, the attachment points:
Don't seem to be in the right position.
The "Overhead" attachment point seems to be swapped with "Head" attachment point in some models, and in other models they both are static (nb. Overhead is a static attachment point over the top of the model's bounding vol, "Head" is the attachment that is connected to the actual model's head and it moves with model animations).
Also, the "Center" attachment point is missing. It is needed mainly for missile impact points, etc. Also note, the "Center" attachment point on existing SC2 models seems to be static as well (i.e. it doesn't move with model animations).
This is the way most existing SC2 models are set up.
From what I can tell, you are in fact exporting the required attachment points, they are just not named correctly, which is why SC2 editor is having a hard time finding them. E.g. the "Center" attachment point is usually being exported as "hardpoint_XX" where XX changes from model to model.
Hope this helps when you are debugging attachment points.