Great.
Here are some results in case someone is curious:
1. I put this material in my mod engineroom_atlas_01.mat
2. I ran the tool. option
.mat check: missing files, fix path.
Image: results
Above, the original file, below the results.
It found the textures the file needed and changed the paths to your mod.
And here is another example how it changes paths:
1. I created a map with different objects from random folders.
2. I put my map (.map) in my mod and ran the tool option:
.map check: fix missing files, paths.
Image: Map Result (Inside the map)
You can see at the right how it changed the paths to my mod and copied the files.
A correct path to your files is useful when browsing for files in the editors, it takes you directly to the file instead of starting at /redist. And also avoids the game having to search for the file through all your stuff.