Ehm, you say generated using the Bullet Physics SDK...but how do I do that?

I can find the download, but it's all some source code mumbo jumbo to me (remember, I am artist, not coder)
So If I understood you right from before..
I just export a random model from 3dsmax (I assume 1 mesh, no flipped surfaces, and triangles with smoothing, or does it support smoothing groups?) to FBX (would be neat to know what specific fbx version and settings but k*) then use the "to gr2" converter you linked in other topic, and the editor sees maybe the mesh, but it won't have collision?
That is a bit very fiddly... but mostly possible.. at least for some level geometry...
The material editor at least is mostly like any advanced material editor in cg suites ;p So there is at least that.