Matter > Txt_Oper > RenderMap+
To use the effect, make sure your schematic view is visible and that the mode in the schematic titlebar is set to 'matter' so your texture and material nodes are visible.
Rendermap creates a virtual camera which aligns itself with the surface normal at each pixel of your texture as it travels across the surface of your object taking pictures. The end result is a full colour RGBA texture bitmap with all the effects applied from the scene (with exception of output shaders and a few certain lens shaders). You have the option of de-activating certain effects such as specular reflections, highlights, shadows, colour, etc... consult the manuals.
For a quick tutorial (just one of many ways to run the effect):
1) Duplicate the object you wish to apply the effect.
2) Wipe the object clean and apply a single UV texture bitmap (Must be 2D_Local). If it's a polygon object, make sure that each pixel of the texture isn't shared across mutliple locations on the object.
3) Hide your object, but keep it selected.
4) With the schematic properly configured at mentioned above, Matter > Txt_Oper > Rendermap.
5) Accept default settings from the dialog by clicking OK, then click on your new texture in the schematic view.
6) A few seconds later when the effect completes, select the hidden object and go to Matter > Texture > 2D_Local to view the results.
As you look over the generated bitmap, you'll notice that the object's material was set to "constant". Since all the lighting effects have already been burned into the bitmap, there's no reason to recompute the lighting.
Tip: Rendermap uses the texture's resolution to decide the quality of the effect (eg. - larger images produce better results, but take more time to compute). Also, the quality of the effect is based on how the texture pixels are distributed over the object. Therefore, it's wise to make sure there's a dense number of pixels in areas of high detail and fewer pixels where there is less detail - this can be adjusted in the Paint/UV editor.
hope this helps,
speye