Here's my function for this. It applies the same texture to each child though - possibly not what you want.
Function retexture_anim_mesh (mesh,texture,shin#=0,r=255,g=255,b=255) For f=1 To CountChildren (mesh) child=GetChild (mesh,f) If EntityClass (child)="Mesh" EntityTexture (child,texture) EntityShininess child,shin EntityColor (child,r,g,b) EndIf If CountChildren (child) Then retexture_anim_mesh (child,texture,shin,r,g,b) Next End Function