Genome Morph Modifier
Here is a sample implementation of a simple Morph modifier with two targets.
Of course, adding more targets would require adding more nodes to the flow, but it illustrates the basic principle and could be enhanced with some of the advanced controls like Curve operators, ray intersection to limit the vertex motion by obstacles etc. demonstrated in previous examples...
The green cylinder uses the 3ds Max Morpher modifier, the blue one uses the Genome implementation: