hi roberto,
i believe since version 5 of microstation(ms) it already has the capability to do visualizations using raytracing. but from what i read in the news over the last couple of years they are also trying to make it a capable renderer that can compete with the rest on top of microstation's superior modeling tools. check this site of what ms can do http://www.richardwoolsgrove.com/cad/pagePhotoCatList.php?pid=1&cat_id=14