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No, the editor doesnt have an image conversion tool, though you can just select all images, the right click and choose change filename extension. This will change all png to jpeg for example. However this only renames the images files inside the file the data will still be in PNG format. Then you can use the unpack book tool with a simple script to do the actual image data conversion.
And I vaguely recall there was an action chain solution to do this as well.
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