well I hope your laptop is still in one piece...
I've managed to learn something here you must not export the .obj with any spaces in the name else Terragen will not be able to find the mtl file. -
would this be considered a bug even though it's a bit expected
Oshyan?- I'm assuming that it is looking for a mtl by the name of "Dreadnaught" instead of "Dreadnaught g.mlt" if that is what you exported as.
I've gotten the model into tgo format with only 16 materials although you will find that it is a bit too colorful.
the diffuse color is set to some "pretty" extremes and I'm sure you will want to rework them. Also on the quick render I did it looked like the texture images are repeating too often (I didn't bother to look at the uv mapping on the blend file as I'm a bit rushed on time) but maybe they are correct - I did just do the default Quick Render.
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hope I helped save your laptop from disaster...
~§ardine