You don't need the thruster01.ani. The object must be textured with a single map file named thruster01.bmp (can be one frame of the thruster ani) in Truespace. It must not be tiled !
Also the engine subsystem and engine glows must be properly set in PCS.
The size of the thruster object should be somewhere below 5 m in length (FS units).
A further problem is that using the current converters (both cob2fs2 and PCS) the number of vertex normals (or what) will be different from those of the V models. Because of this (or at least I suppose that this is the cause) the animated texture won't show up on some video cards (mainly NVidia chips).
There is also a workaround for this that I've found useful. I'll explain this later if that's the case for you.
I hate thruster flames.
