Here's a little tutorial/write up about how to export 3dsmax animation into modo, using .fbx file format, and the .pc2 to .mdd utility to translate
mesh deformation from skinning,morphs, cloth simulation etc.
Here's the 3dsmax scene. The animation is quite simple, there are few rotation/translation keyframes on HeadCollision (b) object. The hair (d) are animated using a
cloth modifier. To avoid any orienation problem at the export time, every objects are linked to a dummy (a) root object, place at 0,0,0 world coordonate.
Here I add the point cache modifier to bake the
cloth simulation from the hair. Use the .pc2
format for the cache format.
Now it's time to export the geometry.
Double click on the root to select all the
hierarchy, and choose export selected.

Here's the .fbx options tab, basically
everything is deselected, excepet the
animation.
Here how it looks in Modo. Translation/orientation are imported ... it's time to apply the hair deformation
Fire up the Pc2Mdd utility available here. This little app
from Alexandre Chambriat will convert the point cache
created by 3dsmax to an .mdd for Modo. When dealing
with .fbx file, it's important to choose 'Invert Z' in the
MDD options. If you're using .obj, leave everything off
excepted the 'YZ Swap'.
We can now apply the .mdd deformer on the hair !