It takes the material assigned to the selected object and assigns the name of the object to it. Then it checks if there is a bitmap texture assigned to "Diffuse", "Specular Level", "Opacity" and "Bump". If it finds a bitmap texture in the slot it renames the bitmap texture node to "Color", "Specular", "Opacity", "Normal". Then it also renames the textures asigned using the pattern "NameOfTheObject_NameOfSlot.*" ex. SmallBox_Color.bmp
