Bad Texture Alignment on Brush Geometry and Displacements
Fixed in VMF Exporter 1.21 (WWMT 1.768)
The VMF Exporter did not originally export the correct texture alignment, rotation and scaling on brush geometry and displacements. This problem was fixed on March 3, 2012. If still having this problem, download the latest version.
Special thanks to Andrew Penry for finding the solution.