I wonder as well the most efficient way - however you can export as jpgs.
I can export as JPEG's from within the .exe? I'll give that a go, althoug the .exe I've been given keeps crashing so... I may just have to start from scratch.
I don't know if this will work on such an old version of Director, but in newer versions, you can make a text file named lingo.ini in the same folder as the projector with the following text:
and when the projector starts, you will get a message window... from there, you may be able to manipulate the internal casts... so you might be able to retrieve the raw images that way.
Also, there is a program called "diropener" that will turn a exe into a dir (it only works on Dir 8 and less... but I dont know if it works on one that old)... anyway, you can try it as well if you can find it.