Issue with Daydream Renderer Import Wizard

**Accidentally posted this in the main VR forum, so moving here.
So I'm using 2017.1, and was able to build and deploy my project to Daydream, but performance was really sluggish. Consequently, I tried using the Daydream Renderer Import Wizard to convert materials.
The conversion utility seems to start plodding along normally, but then just stalls forever.
When I look at console messages, I see the errors show below saying there are issues creating asset at a certain path. I've tried running Unity in admin mode in case there were directory read/write permission issues, but still get the same error.
Thanks in advance!

 

The DaydreamRenderer component needs to be attached to a GameObject at the root. It looks from your hierarchy that it is down one level, and the error is about the path of DR. Worth a try.