OK, to sort this out, can people Please post
1) their computer specs - esp their Graphics card
2) their FPSC version
3) if its working or not!
I'm having no trouble in V1.04, or V1, I have an ATi Radeon.
EDIT
Domray, whats odd is that the Armoured Drone in your first shot is from Loc, and therefore got exported from Max, not milkshape or maya. I'm thinking this could be an issue with the DBOs or graphics card.
POSSIBLE FIX: Delete all the DBO and Bin files from the entity bank of the pack. it could be that there are some V1 DBOs in there that are messing up in the update
(whoever said they've seen this bug with milkshape export - it's similar, but that happens when you export whilst in animation mode, that isn't the issue though, as the advert I posted at the start is all taken from ingame shots i.e. no deform