Try hiding all body pats in Lightwave that you don't want exported as part of the Morph.
IE, hide everything but the head part before you export.

Also make sure you have nothing selected when you export. No points. No polys. No Edges.

mo·nop·o·ly  [muh-nop-uh-lee]
noun, plural mo·nop·o·lies.
1. exclusive control of a commodity or service in a particular market,
or a control that makes possible the manipulation of prices