Yes but the cab is not transferedhmmm..bummer..just learned the hard way that the III apparently doesn't yet accept all in one Bundle presets converted in Fractool..
unless theres a workaround I ..or (@AlGrenadine ) haven't figured out yet....
EDIT
WOW looks there Is a way thru Fractool..instead of conversion using the drag and drop interface , you have to View the preset, then use the menu in that window to "send to fas device"..and it does!