Hey, Karithian. I'm working on some mountains myself as well. I pretty much was reasoning the same thing you figured out but I had not been able to generate objects. That could have been because of the ticks incorrectly chosen, however now that you have figured that out I would like to point out that I can have identical models with different texture paths. But be aware, the mountains use other textures that are used widely through the skyrim world in a central theme. When making new mountain textures, it's wise to use something that would be thematic. I'm sure you know that though.
Concerning the process of having a different mountain texture path, it requires some simple hex edits that will change the texture file names 'value' only, not it's file name length. Changing the texture filepath's filename's length in characters will fail. For example if the dds file name is RedLight.dds, I could change it to BRNLight.dds and place the mesh in game with no errors. I currently play skyrim with all my mountains with a different texture of a file pathname of EmynMuilmtns01.dds. Notice the name is different but has the same character count of MountainSlab01.dds. Maegfaer and I poke about with the hexeditor and he pointed this out to me and it works great.
I haven't been able to correctly generate my object LOD though, I suspect that it has to do with the ticks. I would appreciate if you could point that out more clearly for some here

and I'll give mine a whirl now. Thanks for being so persistent.
On the fact that new texture paths can be made, proof of concept is already merged in our MERP master, once I get the LOD ball rolling, I'm going to try working out multi-duplicate object generation.. hopefully.
