Maybe Ilussion Softworks messed that up

@betteryouthanme:
Is the stair just invisible or completely missing?
Occluders are meshes which prevent the engine from rendering objects which are occluded by other meshes, have a look at http://www.lerk.de/2009/03/occlusion-culling/ for an example.
Well the option lets you choose whether the sector meshes are shown in the viewport. You can think of a sector as a room that has windows and doors ( or other "holes" like a hangar ). The sector prevents the engine to render all meshes that cannont by seen from inside a sector except through windows/doors.
This is the sector HL_m1_01 from Africa1 with the actual sector mesh ("sector HL_m1_01") hidden and all child nodes visible:

And this is the sector mesh. Grey/black are areas defined as windows/doors, so that are the areas you can see trough

Sector mesh and sector child nodes visible. The "holes" perfectly overlap with the windows and the door

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I've added a custom material to 3ds Max with all properties that can be set for H&D 2 materials so far. The new material supports also color keying which means that areas of a specific color appear transparent.

And here's an example of color keying. The color field below the checkbox "Colorkey" displays the color thats being keyed out.
Colorkey off

Colorkey on

I've also fixed a few other things. The new update will be available soon