Can you tell me what program generated that model?
Mdx sanity tester
Code:
Errors: 4
Particle 2 Emitter 0 "Dust: Walk": Invalid texture 4294967295
Particle 2 Emitter 1 "Dust: Walk": Invalid texture 4294967295
Particle 2 Emitter 2 "Rock: Walk": Invalid texture 4294967295
Event Object 1 "UNNAMED": Zero keys
Your texture IDs in those particle emitters are -1, which is invalid.
Having no keys in an event object is also invalid.