Modified Features:

VRayVolumeGrid
Added channel data interval information to the cache info
Create default lights for the GPU preview if there are none
Rename “Analytic” scattering to “Approximate”

Bug Fixes:

V-Ray
3ds Max was crashing when switching focus to it with a radio button active
Fixed rendering slowdown on the main machine with DR since 3.40.01
Enabled back running on Windows XP
It was possible to add empty servers addresses for DR

V-Ray RT
Color mapping “Affect background” was not exported
Crash with Ornatrix hairs placed on top of VRayDisplacementMod
Region rendering with DR was very slow during ActiveShade

V-Ray RT GPU
Enabled back VRayTriplanarTex for bump, since 3.40.01
Misplaced bump map with UDIM tiling
VRayBumpMtl was not working with VRayEdgesTex when the base material also has bump

VRayColor2Bump
Bump effect was offset

VRayProxy
Preview meshes were not loading when opening scenes with XRef scenes in them

VRayVolumeGrid
Crash when deleting a light that is excluded in the GPU preview list
Crash when loading a cache while RT is running
Krakatoa and Stoke MX were using the same frame from the velocity field of imported caches
Using Self-illumination, results were different according to number of rendering cores

http://docs.chaosgroup.com/display/VRAY3MAX/3.40.03