1. use tga 32bit uncompressed
2. use paatool v1.1 instead of texview, it mipmaps automatically and you get better results with it. (mipmapping means that your texture is scaled down when view from aside or afar)
3. the alpha channel manages transparency. unfortunately not all graphic programmes can handle it.
4. white objects mean that they HAVE textures but the path is wrong. so this is surely the clue to your problem. did you follow brsseb's tut? if so i assume you get your textures from your c: drive, not from the virtual z: drive. in fact they are the same, but
relative to o2 they are different.
that's quite a common mistake