Oh, yes. In the case of the referenced materials, the plugin shows the texture that is marked for preview in the mxm file.
This where you can choose the texture:
Texture for preview in MXED.jpg
To tell the truth, it is not very comfortable to change, as you have to edit the material, wait for the material to open in the MXED, change it and save it. I'll check with the developer in case it's possible to show a list of the textures available for preview in the material (although I guess it would increase the loading time for the referenced materials).
Cheers!
Fernando
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