In the Renderosity store, it's called
Binary Morph Editor. Just an alternate name for
PMD Editor.
I bought the
Poser Power Tools set; it has
Poser File Editor (dog-eared paper behind running guy), which makes hand-editing PP2/CR2, etc sooooo much easier.
It maintains hierarchical order for you, and each type of item has a characteristic icon.
Any content creator -pro or freebie- will love
RunZip (compressing vice); Select your newly-made lightsabre prop to add to a zipfile, and RunZip will also find and include every supporting file (OBJs, texturing JPEGs, etc) and zip-pack it all in runtime folder hierarchy.

As RunZip runs, it will call
Runtime Repair (wrench icon - also in the Power Tools set) to correct text formatting issues, path issues, etc.
The icon in the lower right of the Power Tools image is for
Binary Morph Converter (blue and yellow cube frames).
It will extract embedded morphs to PMD, correct paths,
delete unused morphs, re-direct, etc.
This set is not cheap, but it is absolutely worth it.