Another coming Script by talented Artist Clovis Gay: TreePainter >> Download Ultimate Painter...
>> Download Ultimate Painter Script
>> 3ds Max Script: Spline TRACER
with some features like in Speed tree this Script allows you to paint tree branches in 3dsmax viewport, with many control options like Auto-Grow feature for trunk, branches and leaves. Riged branches.
You can finally bake it in one static or point cached mesh.
TreePainter is still in developpement and hopefully it will be available soon
script - more about Script