The VRayOSLTex texture and VRayOSLMtl are only available in 3ds Max 2011 and later.
The VRayOSLMtl material automatically compiles OSL shaders to object code (OSO format) upon shader selection. No following compilations occur (even at render events). If the loaded OSL shader is modified, use the context menu options Reset or Reload of the Shader file button for your changes to take effect.
An OSL compiler that translates *.osl files to *.oso files can be found in the tools subdirectory of V-Ray's root installation folder.If the oslutil.h or stdosl.h include files need to be placed without modifying the V-Ray environment variable VRAY_OSL_PATH_3DSMAX####_x64, create a folder named vrayosl in the folder C:\Program Files\Autodesk\3ds Max #### and copy the include files into it. The default location for the include files is C:\Program Files\Chaos Group\V-Ray\3dsmax #### for x64\opensl.
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References
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OSL home page at SPI - Open Shading Language home page at Sony Pictures Imageworks
