If you receive an error about a missing PVRTexlib.dll when importing Scaleform SWFs or importing through the Content Browser fails (November 2011 UDK), download the gfximport.exe linked below and replace the version in your [UDKDirectory]\Binaries\GFx folder. This should resolve the issue.
gfximport.exe - Fixed version (right-click > Save As...)
gfximport.exe - Fixed version (right-click > Save As...)
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