The dae file is incorrectly referencing the location of a texture file you are using. This can sometimes happen if you are using (as you should be) a project folder structure and so have texture files in one folder and scene file in another and are exporting your dae into another folder. There is a “relative file path” tickbox for this in the max exporter.
The error can also occur if you rename your files after export – as the dae will still be referencing the old name.
Oddly this error doesn’t occur very often even though here we always use folder project structures to keep everything organised.
It is a simple fix however, simply open up your dae file in a text editor (NotePad++ is our recommendation) & find the <library_images> tag, this will be the section that stores that file paths connected to the dae. All you need to do is remove any long paths – anything with folder names – so that the path goes from looking like this:
This will indicate to the dae file (and Studio) that the texture file is in the same directory (the .tar archive) as the dae file – which it should be.