ParallaxTest is an unfinished shader since (although not available in SDK 2013) which draws parallax mapping on an albedo.
Alternative to the disabled $parallaxmap shader parameter.
Accepts only a $basetexture, of which the alpha channel is used as the heightmap.
To do: Document/test more of this shader!
The texture scale in hammer seems to correspond to the depth of the parallax effect. Higher scale -> deeper parallax. Models with this material will rendered invisible.