It doesn`t work that way.
Here`s the way to go:

- Download and install Blender 2.49
- Download and install the Gamestudio Exporter for Blender 2.49 (http://www.opserver.de/wiki/index.php/Blender)

- Save your Level / your model in Blender 2.61
- Open you level / your model in Blender 2,49
- File -> Export -> File as .$$m

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You`re done and have exported MDL files ready for Gamestudio.

It`s not optimal that way and animation doesn`t work because they get lost while importing a Blender 2.61 model into Blender 2.49. But it`s the only way that works.

Somebody should convert the 2.49 exporter to Blender 2.61 with support of animations and Bones. Ventilator doesn`t want to do the job and I`ve got no time at the moment (plus I`m not experienced at all with Python). If there`s somebody who thinks that he`s able to do the job: You could be paid by crowd funding. Everybody pays 20-30$ so that you could earn some Dollars fo the job.