When I pause it so I can properly examine the camera angle aspects, this is what I see. When I view it mostly face on, adjusted for the offset in the envmap image, the rock highlights and shadows are in one orientation. The second image shows about 90 rotation around the envmap sphere, where 50% gray is more likely to occur, making highlight and shadow blend to gray. The third is about 180 on the envmap sphere, switching the highlight and shadow. I'm just saying this is what we'd expect from a good bump map, if only we could get it to do this via light source vectors rather than camera vectors. It ranks right up there in irritation value with emitting chunks and ALL the chunks having to face the exact same direction = area Y axis.
If you find some more layers we can poke with, I'll be very happy to poke around with those. So far I'm not seeing anything special on my end with non-gray-scale env maps.
I did play a bit with env maps combined with model opacity changes. When you combine those, you get a little bit of opacity, and a little bit of extra shine. Something in the engine hardcodes at least a percent of alpha value to envmap request if you have a defined envmap for the object. I noticed this when playing with my gem-based weapons, and holdable gems and orbs. I'd really like it if I could completely confine the two processes, and yet allow them both in a model. An alternative is to create two models, place them in the same x/y/z position, and have one display a true texture without shine, but with some good alpha value, and then have another overlay it and place the shine. I know you can make use of this differently on different types of model. For instance, the discovery of the bump replacement image you pointed out worked wonders on character models, especially when you could define replacement textures and envmapping right in the txi and have it work properly.
I was hoping to apply two env maps to the same object, using multiple meshes, or multiple objects. The only way I see of being able to do that is to emit copies of the placeable with different envmaps set to each VFX. I'm hoping that by applying two env maps to the object, I can use that cyan to magenta normal map image and get env mapping in two directions, or on at least two axes.
I was really hoping to have envmapping take light into account, because at first glance, that is what it looks like is happening in the game. But when you really look at it, you definitely find that the camera is the fake light source, and I'm not overly happy with that.