MakeAsset works similar to MakeClothes, but saves to a .mxa (.json) file instead. .mxa files can be read by the mhx2 importer/runtime system.
Here will eventually come documentation for it.
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Thomas@MakeHuman 
please help me, i am trying to make custum teeth for makehuman but cant figure it out with make clothes or make assets and make assest will not let me put ouputlocation, it is buged to let you only out a few characters in text bos for ouput so i cant put path to teeth folder
GillaGilla
You should use MakeClothes; MakeAsset is an internal tool that I used to make stuff for MHX2, but it is not finished and may very well never be.
A long time ago I wrote a tutorial about how to deal with rigid stuff like teeth with MakeClothes. I thought it had disappeared but today I found it: http://web.archive.org/web/20150407001811/http://www.makehuman.org/doc/node/makeclothes_controlling_the_result_with_vertex_groups.html
GillaGilla