This is not always a bug, but in some circumstances it is. There are a couple reasons that the export process may not proceed to compile models/textures:

1. The propery Modelsrc, Materialsrc and Bin directories have not been set
2. You do not have the option in the WWMT settings floater to Compile models on export.

If both of those sets of criteria can be excluded, there are some other reasons your compile doesn't proceed. Check these tips:

• If using 3ds Max 2012: the initial release of 3ds Max 2012 had a MAXScript bug that was not unlocking files created by MAXScript. That stopped the compilers from working. There are two solutions (both of which should be taken). Download the latest Service Pack for 3ds Max 2012 and also download the latest version of WWMT.
• Steam isn't running. If not, start Steam. Also make sure that your Mod's SDK content is up-to-date.
• There could have been a fatal error in the export. Press F11 and see if there are any erros in the MAXScript listener. If so, please submit them in the WW forums.