The currently selected file output format cannot store VR Warp metadata. To embed Warp data in the output image, select Corona JPEG Image Format from the drop-down list in the Save dialog.
This message appears when rendering a spherical VR panorama with the VR Warp helper present in the scene if file output format of the currently rendered image is other than Corona JPEG. The Corona VR Warp helper allows for creating transitions between individual panoramas directly in 3ds Max, without the need for using any additional applications. However, special metadata need to be saved within the image file for this to work. These metadata can be saved only by using Corona JPEG file format, which, other than that, does not differ from the standard JPEG format.
Solution: go to 3ds Max "Render Output File" dialog (Render Setup > Common > Common Parameters > Render Output > Files...) and change file output format to Corona JPEG.
See also: Corona VR Warp <link>