How do I fix the 'Texface Conversion Problem' message when importing Yo-Frankie files into 2.72 Whenever I open 2.49b - Yo Frankie game level files using an up-to-date 2.72 Blender build I see a message popup that says 'Texface Conversion Problem(see error in console)'

How can I clear this up so I can get to work on getting the rest of it working?

Here's a screen render of the error message.
In short, the game material system between Blender 2.49 and 2.6 has changed a lot: http://code.blender.org/index.php/2011/09/bge-material-texface-changes/

This requires a automated conversion process, which sometimes fails for complex projects like Yo Frankie. You should check the console to see exactly what the problem is.