I've just been playing with it... It works, but it's not much usable...
All it does - it converts the underlying mesh vertices to volume grid. So, if you e.g. create some standard mesh with a lot of vertices all over its volume - they will be represented as a volume grid by this modifier.
As I said I don't think it's somehow usable, so I will likely remove it in later versions...
could be usable to create something like clouds without simulating.. spheres plus noise and one would have a cloud. Tried it but could not get it to render.. might have ben to low poly.
Edit:
tried it on high poly mesh still nothing.. shows up with the standart material in the render. oh well.
in the Octane Daylight. Its called "Medium". Put a Volume medium in it and play with the settings. there is no manual as far as i know.. but thats what i did
thank you ThaRaven , i know how to use it now, but look at the video, it's an object with a voxel attributes, edge feather, textures etc... it's a really powerfull feature i dont find in 3dsmax Plugin.