did you add your highpoly mesh to the projection modifier? the 2 tone texture you get in max when rendering kind of suggests there is something wrong with your lighting or rendering settings. I'd suggest you create a completely new document, merge just your models in to that document and try bake again.
fixed it , it was a problem with my pathdeform modifier , everything was set up properly but it has multiplied my mesh around the spline about 6 times so was rendering out over the top of each other and causing it to break so remade my tracks ( the model is a tank) and rebaked and they came out fine :D just a stupid…
A few simple things to check: 1. Does your projection modifier include the high poly mesh? 2. Did you enable projection in the Render to Texture Dialog Box? 3. Is your high poly mesh visible? If not, do you have render hidden geometry checked? 4. In the Object properties boxes for both your high and low poly meshes, check…