Heres a test with this, Needed to restretch the UVs on my model in mudbox after sculpting in a mouth and didnt want to lose the work I had done so far on the texture. Nothing like having a non linear workflow.
Left pic shows model with new reflattened UVs and old texturemap, pic on right shows same model with new texturemap after running it through Headus UV Layout. Looks promising, dont seem to be any seam issues, this was using 16bit tiffs, I tried a 32 bit tiff texture file and it came out mid greyscaled, will have to try it for displacement maps though you can go through a sculpt with displace workflow in mudbox to do that easily enough.
Just a quick job on repacking the UVs to test so dont ping me on that :)Phil at headus has a video showing the workflow, Unless you preserve the shells bounday orientation and scale there is a little loss of quality on the texture transfer sampling, but there is some workarounds for those.