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					 Discussions Rules and Guidelines
 Discussions Rules and Guidelines 3
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There could be a few things wrong. Filepaths, not assigning the material correctly from within blender, mismatching .vmt and .tga names, etc.
I guess you could start by checking to see if your material was assigned correctly. Right click your .smd file and choose "Edit with notepad++". Do you see your material name listed correctly? If you don't know what it's supposed to look like, it should look something like this:
Notice the texture name: "wingedhelm_color". This is what I applied to my model in blender (wingedhelm_color.tga), and it should match up with your .vmt file (wingedhelm_color.vmt).
Make sure you don't have any weird looking texture name in your smd file. If so, reapply the material and re-export. Check again to make sure it worked. If everything looks good so far, let me know.