the 3dsmax exporter script has an issue.
In the envelope editor, max arranges the bones by their heirarchy, which puts the weapons immediately after the hands that are holding them. In the converted form, the weapon bones are all at the bottom of the list. However, it only moves the names of the bones, and it leaves the weights as they were before, so when you think you had your sword weighted to bone_weapon_weapon01, it is instead weighted to bone_L_clavicle.
It's correctable by either guessing where the actual bone is going to be and weighting it properly, or by importing an exported model and re-weighting it, but it'd be nice if the script took care of the problem.
Also, materials are handled by materialID, not by which materials are assigned to the model in Max. MaterialID1 is the body, MaterialID2 is the attachments.