I’m trying to import into unity 2 textures blended with vertex paint from 3dsmax…can Unity even read materials like this?
Unity doesn’t read materials, it employs shaders.
The limitations are defined mostly by programming capabilities in general.
There are many vertex-color-blended shaders.
I have two seamless texture on mesh, blended with vertex color. All done in 3dsmax…is there any possibility to Unity read something like that?
im not sure if you can directly export/import vertex colors (i cant even assign them directly in cinema4d) but surely there are shaders which can blend multiple materials using vertex blending. also if exporting otherwise brings up issues, you could use a splatmap(rgba) as a blending texture.
Proof; www.annihlator.nl/RainTest has various demos online of a RainShader i’m building, i’m using vertex colors to feed additional parameters (like adding fake terrain height to the calculations or a puddle level limit) I’m not near my scripts or unity at this moment, but if you’d like ill see if i can post a shader example just for retrieving the vertex color data so you can use it however you like 
for painting vertex data in unity there’s multiple free assets available, with these you can paint your meshes directly in your scene view, ideal for tweaking!
I think in any case google is more useful then me if it comes to exporting the vertex data from Max though 
thx for replay …well if you know how or where …shader that will do the trick… i will be grateful. As you can see i’m no much of code dude…and know little about unity shaders and how to make them. I’m googling about that stuff every night …very little about that subject…