This is a known issue (bug) with 16 bit files. To work around it you can save an 8-bit copy of the file and use that instead. For the most part you shouldn't see a difference between 8 and 16 bit diffuse/spec maps.
Hi all, When I load 16 bit .tiffs into Toolbag, it doesn't seem to remember my sRGB settings upon re-import. This means that every time I re-open the project I have to manually go through every material and re-enable sRGB for my color and spec. Any ideas?