I exported a character (elastic folks male) to PSD, changed his skin color, hair and some face parts. I saved it and went back into CA4 and used the 360 head creator to adjust the pieces into proper looking turns. Back on the stage I animated the character and saved the file (I always save before rendering). I rendered to a video and all was well.

However, when I opened the file later to make some edits all of the work I did to the 360 face was gone.