Found that problem while was trying to remove annoying labels from clothes.
Example:
There's a jacket named "coach" in player.img that has a corresponding texture "coach.txd"
Also, there's a vehicle "coach" in gta3.img that has an appropriately named "coach.txd" texture
If you were to use 2 mods, one of which changes the vehicle's texture and another that change's the jacket's texture in that example, you would only get only one of those textures actually loaded in the game and another one completely ignored.