Is actually pretty easy to see the materials in shaderview, but a bit tricky in WED.
It's usually possible to ad them in GED easily, but i myself only see the full effects on a running game.
All the code you actually implement for a material is that:



...and that's it. Material appear in the model material options on wed, just apply and watch when the game runs.
Remember that the .fx file NEED to be in the game root directory.
You need to download ONLY the .fx files that works with gamestudio - not all .fx files works with it!