Lightwave Scenefile conversion tool
Visit this website for a fix to this bug. Some more detailed info can be found there as well on how to deal with the bug introduced in Lightwave 10.0 and 10.1.
The website allows you to convert the scenefiles to be compatible again.
Thanks to Charlot Cobben for writing the conversion tool and to Designburo.nl for hosting the website.
If you know what it is all about, use the converter straight from this page here: