It will fail if you turn off the “use memory frame buffer” option for sure. Otherwise, at the end of the rendering, V-Ray will take the memory buffer, write out a second scanline .exr file, delete the original tiled file, and then rename the scanline file to the original name. To be honest I have not measured how much memory the scanline conversion takes beyond the obvious amount needed for the memory frame buffer.
Vlado just as an aside would it be possible to get a few options added in to this similar to the flags in the vrimg2exr command line? As a preference I’d always like ZipS compression and the datawindow turned on for nuke as they make another huge difference to the redraw speed of files - would it be a big deal to add in compression, color depth and datawindow options into the save dialog?
good to know since as a rule I usually leave the memory frame buffer off as I always believed it sucked up resources. I think the additional options that joconnell mentioned would be a great addition.