It might be what rendering engine you have set. Make sure you have Blender Render set for the blender rendering engine (top middle of screen, drop down menu), and the viewport shading set to Texture.
If you want to render using cycles, be sure to set Device to GPU Compute in the render panel (if you have a CUDA enabled NVidia card), and you'll have to re-assign the textures manually. Click an object, click the materials button in the properties window, and click "use nodes", then you can click the button to the right of the color picker, select "image texture", then use the "open" button that appears to manually select the DDS file from the textures folder.
Hope that helps.
If you want to render using cycles, be sure to set Device to GPU Compute in the render panel (if you have a CUDA enabled NVidia card), and you'll have to re-assign the textures manually. Click an object, click the materials button in the properties window, and click "use nodes", then you can click the button to the right of the color picker, select "image texture", then use the "open" button that appears to manually select the DDS file from the textures folder.
Hope that helps.