CowboyBunny: Yes, always avoid to use objects and subtools with the same names, if you have 7 subtools named “Sphere” only the last in the Subtool list will be exported since GoMax will overwrite the file “Sphere.obj” every time. And even if we fix it the Zbrush export, you will be prompted in Max every time you import the file as the names will conflict again.
While there are workarounds for this on both sides, for our sanity and your own whenever you are to revisit your work, get your naming conventions in order. 
Deathmetallist and you guys who have problems in 2011, disable to export normalmaps if you are to use Mental Ray, (it works fine in Standard and Directx). Reason is that Autodesk for some reason changed the MentalRay Shader “bump_max” to become a non-constructible map in 2011, why they did so I don’t know.
Also, I yet haven’t found out a good setup for how to implement a normal map with a flipped green axis into the bump-slot in Mental ray. If you want this normals in MR to work soon you can aid in making a setup that works well in MR and PM me how this should look and I will let maxscript set it up on every import 
Thanks for all bug reports people 