I got an important message from Kaldarasha ;
http://forums.qhimm.com/index.php?topic=12836.msg233742#msg233742He mentioned that the hierarchy of MOD path must keep the hierarchy of magic.lgp file and the other file placed in;
C:\Program Files (x86)\Square Soft, Inc\Final Fantasy VII\data\battle
As seffect1.tex, seffect2.tex, seffect3.tex is placed in the same level of magic.lgp in the folder;
C:\Program Files (x86)\Square Soft, Inc\Final Fantasy VII\data\battle
,then in the mod path "..\mods\mymods\
"magic" folder and seffect related png files must resides keeping the same "file level" as in the folder;
C:\Program Files (x86)\Square Soft, Inc\Final Fantasy VII\data\battle.
i.e.
MOD "magic" folder and
other rain7_00.png, seffect1_00.png ...... seffect3_26.png(82 png files related with rain7.tex, seffect1.tex, seffect2.tex and seffect3.tex both shall be in;
"..\mods\mymods\
Did I figure out the issue correctly ?