Just some random thoughts on how you could achieve that effect.
Start off with a high poly shpere (or other uniform shape) as the parent. You could then vertex edit it into shape A. Going back to the parent model create shape B using the same method. This way you know the verts in shape A will match those in shape B. You load in shape A and B and use the vertexdata commands to transition the verts from shape A to shape B. The total smoothness of the transition is determined by the number of steps you take between A and B. This is nice because with a little logic you can adjust the number of steps to match the graphics horsepoer of the user's machine.
Now one of the things not addressed it yet is the change in texture coordinates from shape A to shape B. Would have to check out the VertexData commands to see if you can re-assign those after the transformation is complete.
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TAZ
"Do you think it is wise to provoke him?" "It's what I do." -- Stargate SG-1