1) Sculpted a prop, imported it to iClone as an iProp.
2) I animated it with keyframes, no physics. Put the relevant animations organized in the Perform menu.
3) I tried exporting it back to 3DXchange and this is what it says:

There is only documentation to go the other way as far as I can tell, but other people are able to do it.
https://www.reallusion.com/iclone/help/3dxchange4/pro/Converting_Model_with_Animations_to_iProp.htmI have pipeline version of 3DXchange.
Edit: Four years ago it wasn't possible:
https://forum.reallusion.com/PrintTopic158708.aspxEdit 2 for webmaster: The forum is indexed by google by the PrintTopic links. You need to remove these links in the sitemap. Google and Bing are much better for searching the forum than the native search, but every result is with this annoying print link. Using ASP is a nightmare. So many weird quirks that occur.