PTC has replaced the former Advanced Rendering Extension with a new solution powered by Luxion Keyshot. The new application is accessible from the Applications tab in PTC Creo Parametric and will feature a real-time workflow to see your renderings take shape instantly. You will be able to easily switch between rendering and modeling mode without needing to exit the rendering application. New Scenes have been created to provide further improved renderings to place your model in the right environment. If you have an existing license of standalone Keyshot, you can easily export your Creo data to standalone Keyshot through the the new Advanced Rendering Extension.
In Creo 3 is Realtime render, Photorender (Essentials packages) and Photolux (Advanced Render Extension).
Could you explain what happend with Photorender and ARX?
In Creo 4.0, we replaced the traditional Photorender capabilities with our 'Shade with Reflection' capability. This was enhanced in the previous few releases to be equal or better then the legacy Photorender. Another benefit was you did not have to process the rendering to see the results. With the shade with reflection enabled, you can dynamically rotate your model while in the enhanced realism mode. For this reason, we have removed the traditional Photorender and thus the Render tab and placed the content in the View tab. Specifically, the Appearances and Perspective modes. Now you can easily assign materials, change scenes and see the results immediately while in Shade with Reflection mode.
As for ARX, in Creo 4.0, we replaced the advanced engine from Mental Ray to Keyshot. This will be available under a new application called Real-Time Rendering in the applications tab. Those active on MNT of ARX, will get access to the new license when Creo 4.0 is released. The new ARX will provide real-time ray tracing and high quality rendering that people have come to expect from Keyshot. Working directly in Creo, users can quickly generate high quality renderings without needing to wait for the rendering to be processed.
Hope this helps.