I am currently using Geopak Suite 08.11.09.726 with MicroStation 08.11.09.608. I've set the Survey Settings File Parsing Description Separator and am using an ASCII comma delimited text file. I have been doing this without problem for several years in Geopak Survey SS2 - with the smd and other settings.
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None of my feature definitions in the smd have the "description" clicked on; instead the "comment " is clicked on.
The reason is because the smd wants some sort of constant parameter in the "description"
Here is the smd linking code:
and using the exact same ASCII text file, this is how it comes in using Geopak Survey.
In the SMD you provided the Description for Sign is not turned on and configured to plot. If you change it in the SMD and then save the SMD to an XML and attach it to your drawing file it will show the 'MTL' description.