Did a clean install and yes the mod tool works, but as last years version indeed. I guess this will do for now, don't think there were significant updates to the game apart from the new content. Can't seem to find a log for it either, they would have probably mentioned it otherwise.
@tattoo I think I found a workaround in the "SpinTiresMod How To Install and Discussion"
Still having some fps issues and I might have got a few useless shaders in there, the effects should only be 10 or so. If you want I can post the link to where I got the pack and maybe someone can clear the useless ones out.