The current version creates FFP shaders (no VS/PS). The tool is great and I created a lot of shaders and understood how they work.
You do not need a PS/VS 2 specular bump mapping shader. You can create a bump mapping shader with FFP and you can create a spec effect with a cubemap. The bumpmapping looks quite nice on models:
This is a shader that I created with the help of SMEE2. It uses a normal map like a PS/VS shader. You see the standard model without a shader left and the same model with shader right (both use the same lighting and material). You can see that some folds and a good self shadowing appears when you apply this good old ffp bump map shader. So I believe that FFP shaders can create beautiful arts and are a good fallback from 2.0 or 3.0 shaders.
