This plug-in has an amazing goal in mind, but is not quite there yet. Still, given that it's now free, it's well worth experimenting with.
My biggest concerns right now are what appears to be incompatibility with anything but diffuse textures. I can't work decal textures into the appearance and a lot of clothing items get wrecked too (particularly look-altering ones like makeup or eye shaders). Can't even adjust basic colors a lot of the time on the clothes.
It's no doubt a complicated task in the first place so this is still recommended to experiment with for anime fans. I'm gonna' try to put up some good results I've gotten so far.