Hi LMCC,
Nope, it is not how it works. Lets review some definitions. Notice that not all the elements or Power Tools are present in all the Punch versions. I am just defining them in order to clarify concepts
Texture / color: Located in the Preview bar--> Materials or Preview bar--> Colors, they define the exterior appearance (surface) of a Punch entity (walls, roofs, floors, etc) or a 3D object (table, chair, appliance, cabinet, etc) . They are applied by drag and drop
3D object: object created / imported / modified with the 3D workshop power tool (I am not differentiating here cabinets, fireplaces, etc). A 3D object can be textured with Materials or colored with Colors.
Material Painter / Material Modifier: Power tool intended to modify the characteristics of a Material / Color present in Punch. This means that you can choose a Material in the libraries(say white siding, see picture #1) and modify it to look pink (see picture # 2). You can change also brightness, opacity, etc. (Hence my sentence "You can modify Punch's colors and textures using the Material painter / Modifier")
You can save the modified texture / color to the respective library as PTX
Material Workshop (present only in AS4000 V8 and V10, AS 3000 V10 and IDS: Power Tool that works in the same way that the Material Modifier, however, you can import and process your own textures. You can save the modified texture / color or the ones you imported to the respective libraries as PTX
Photoview: Is a Power Tool intended to insert a picture (bmp, jpg, etc) in the Punch Workspace. This picture can be used as background or to "dress" the image
The board of "Punchhelpers" is a 3D object and the texture of the cabin was imported with the Material Workshop
Notice that, after you import these pictures with Photoview, they are just 2D boards, but you can play with the point of view to get a good effect.
Once the picture is inserted in the Punch workspace, the image cannot be modified--> you can't apply textures or colors, you can't modify the brightness,opacity, etc. You can only change the dims, elevation, rotate it, etc
Photoview Editor: Power Tool intended to modify a picture (bmp, jpg, etc) before you insert the image using the Photoview PT. In the image attached, you can see how I changed the color of the door
So, as you can see each element and Power Tool has a different use
Let us know if you've additional questions
Patricia