that looks like you didn't save the files in the correct dds formats (DXT1 srgb for paint and DXT5 sRGB for the decal), and the white looks like you didn't use a black background when saving the dds file in photoshopI've been trying to mod the Ferrari a bit but unfortunately the parts of the car where the paint file should be are white, and turn red soemtimes depending on the position of the camera. I know it has something to do with the mipmaps, but the question is what exactly?
Here's what I've done in the Archiver.