for quite a long time I have been trying to figure out how does the ‘local with parent’ space conversion works in blender.
But unfortunately I completely failed with this one. Thus the support for it in blender loader does not work fine (even though I tried to fix it many times).
I have made a question on blender stack exchange: my clever question.
If someone knows the answer please let me know.
And if someone has an account there - please rate the question up so that it is noticed.
If nothing works then I will probably email the link to some blender guru