i will have a quick look...2nite after work..sounds like a UV problem
does the textue show in modeller
i dont now how familiar you are with lightwave but..
textures not showing in layout maybe due to a few things
1: try re starting layout sometimes that works for me
2: check you have OpenGL textures ticked in the preferences "d" on the keypad
3:make sure you are set to show "texture shaded solid" in the button next to perspective/camera view
does the textue show in modeller
i dont now how familiar you are with lightwave but..
textures not showing in layout maybe due to a few things
1: try re starting layout sometimes that works for me
2: check you have OpenGL textures ticked in the preferences "d" on the keypad
3:make sure you are set to show "texture shaded solid" in the button next to perspective/camera view