Here is a misunderstanding.
Creo saves MCAD material information as mtl files. This mtl contains material parameters like density to calc the weight and other for FEM simulation or bend tables, xhatches, etc.
But KeyShot saves materials information to render realistic images. The KeyShot materials (also mtl files) contains parameters like diffuse color/texture, reflections/specularity, etc.
The pedant to a KeyShot material is a color (stored in creo as dmt).
So in creo you have to configure a global.dmt table. This enables creo to connect a creo material with color information. This is an option in the creo material file. So when you assign a specific material to a part, the model color will be changed.
A creo color contains RGB color in the diffuse channel and also a color name.
KeyShot will read the name and translate the RGB values.
You’ll see both in the details if the model is imported directly or transfer via the plugin.
To summarize both:
Define creo materials with colors that has specific color name defined.
Use a material template in KeyShot to map the right material to the creo color name.
It isn’t that complicated and work well if creo configuration is harmonized to the KeyShot materials.
It works fine in several processes, automatic configuration and different environments (PDM, MBD, ...)
I know this topics aren’t described not so detailed, but I hope it helps to find your process.
Cheers
Marco (consultant at INNEO solution -> PTC channel partner and KeyShot platinum reseller and a lot more)
PS: written with a mobile phone