I received many PM on how to hex edit stuff like cloth or stadium...thanks to Greg for suggestion I'm gonna share the method:
1. Rename cloth_net.iff file to cloth_net.zip
2. Use 7-zip (http://www.7-zip.org/) and decompress the file into cloth_net folder
3. Inside the folder you'll find all the uncompressed .iff archive files (images , scene description and model files)
4. If for example you want hex edit net physics parameters (cloth file ) use a hex editor like http://www.hexworkshop.com/.....then save the file
5. Once finished just use 7-zip again and compress the files back into a .zip archive using LZMA compression

6. Rename compressed .zip file back to .iff
7. Use external file loader to load archive (or Greg explorer tool)
I know a lot of modder from past 2K are really good @ Hex Edit....hope this will help them!
Regards
EDIT: I set compression to ULTRA