Ok, well, it wasn't working in DS 4.8 - some sort of issue with Iray and the Particle engine I suppose, but it works with 4.9

It doesn't do meta-balls, so particles don't merge for a more natural appearance, but that could change one day (if someone can figure out how to make DS do meta-balls, or if SimTenero adds a dynamic morphing operation to the spawned particles so they at least blend into each other and give the illusion of meta-balling).

Here's a still shot from a very short sequence, using materials that came with the plugin.