This issue has been closed as 'Won't Fix' due to an extended period of time without updates. If this issue is important to you please let us know by posting on the AnswerHub or UDN, and Epic will re-open the ticket for further review.
When importing a LOD Level for Skeletal Meshes, the user is greeted with a windows directory window and a message that states "Failed to import mesh for LOD level 1"
As the user states, this is a simple cosmetic bug and probably won't get huge priority, but it could throw some users off and confuse them a bit.
1. Create a new blank third person template blueprint project.
2. Open the default 'UE4_Mannequin_Skeleton' in Persona.
3. Under LOD Settings select the dropdown for LOD Import select the 'Import LOD Level 1' option.
4. Observe the message displayed in the directory window.
Outcome An error message is displayed in the title bar stating, "Failed to import mesh for LOD level 1"
Expected The title bar says something like, "Select the mesh you wish to use for the LOD"
Head over to the existingAnswerHub thread and let us know what's up.