How to import Modo 601 materials into Unity 3D 4.0

I imported a simple cube with glass material and renders nice. I imported into Unity 3D 4 and the mesh is fine, the scene lights are present, and the textures appear in the hierarchy, but NO materials on the cube in the scene. I thought Modo assets were now supported by Unity 3D. What am I doing wrong?

If your model in Modo only has one shader/material, you can bake a UV map, unfold your imported FBX version of the model in Unity, and manually drop that baked texture onto the model.

But I really wonder why there is no way - or at least a decent workflow that I am aware of - that will take a textured model from Modo with several textures, bake them and assign them to a model in Unity. It kind of sucks, really - this software is not cheap, and you’d think this was a trivial task?!