Converter won’t output textures (anymore!)

Anyone ever run into problems with the Converter not outputting textures? I’d converted several objects earlier today with no problem. Now the converter will create the PSO file but not any textures associated with it.

I’ve double-checked the objects; everything there is fine. Also played around with all the converter’s settings… still no luck.

Figured it might be my system, so I rebooted… twice. Then thought it might be something weird going on with Norton Security. Nope.

Finally downloaded a new version of the converter. Still does the same thing.

Anyone ever run into something like this?