I’m not 100% on this, but as I understand it the Fast SSs shaders use a lightmap to render the SSS effect. This lightmap is refered to in the shader itself. The Lightmap is automatically produce by this shader at rendertime. The issue is that Mental Rays architechture is such that it cannot handle creating multiple light maps for a multi-sub-object material, as it need to only create ONE lightmap per object, and the mutlisub would requite it creating one per SSS shader in the multi-sub. As a result it bails on lightmap creation and the SSS effect does not render.
I understand there could be a hack, to pre-render the lightmaps and assign them manually to the SSS shaders in the multi-sub, but I’ve never done this myself and I think it needs .mi file hacking, basically its bit of a PITA.