Oops, you are right. It shows indeed. I guess I got confused because embedded materials show texture regardless you have that button push or not. This shouldn't be like that, right?
Not really. Let me explain it a bit how it works.
The embedded material can display 2 types of textures, using 2 different checkboxes: The standard 3dsmax "Show Standard Map in Viewport" and the MaxwellBitmap node level one, "Show in Viewport" checkbox.
1. By checking the standard 3dsmax "Show Standard Map in Viewport", you'll get a texture that tries to simulate the entire material.
2. By checking MaxwellBitmap's "Show in Viewport" checkbox, you'll see only that texture in viewport and the 3dsmax checkbox will be unchecked automatically.
Those 2 checkboxes exclude each other, that means you can only have one of them checked at a time.
Right now, the MaxwellMaterial starts with the 3dsmax checkbox unchecked but it acts as if the button is checked. (This is due to a limitation and we didn't find a way to handle it yet). But if you check it, then everything is working as I described above.