Recently updated to fix an error where content would never be compressed. You should update to the latest version in order to fix this.
Note: The full version of XNA game studio is required for conversion. See the ReadMe for details on where to download it.
Create .xnb files for use in XNA games. This allows for .png to .xnb and more.
Full list of supported filetypes:
Graphics Files: *.bmp;*.dds;*.dib;*.hdr;*.jpg;*.pfm;*.png;*.ppm;*.tga
Autodesk FBX Files: *.fbx
Effects...