A new studiomdl.exe has been made available by BrianOblivion (AKA DoomMusic on Sven Co-op Forums) which not only has fixed the infamous UV shift issue that plagued pretty much studiomdl.exe variants, but also properly fixes non-power of 2 textures by padding out space (be sure to use the -b <number of padding pixels say 64 or more> command ). Furthermore has a brand new command called $protected which will prevent bones from being stripped out on compile if they are not weighted to a mesh. It also supports extra texrendermodes used by Sven-Coop and other mods like fullbright.
https://forums.svencoop.com/showthread.php/45003-StudioMDL-with-Texture-Shifting-fix?p=528588
I HIGHLY recommend everyone who is a modeller to use this as it has fixed so many things and has made my workflow so much better.