PhoenixFD 3.0 is here. I'm enjoying it very much and I've created a tool to help in the process. PhoenixFD already offers a checkbox option to generate smoke and fire previews during simulation if you're in GPU mode but that option is not offered with the liquid simulator since it does not use the GPU. Here is a script that will automatically capture viewport previews (GPU or not) to the directory your 3DS Max file is saved (in nicely organized folders, of course).
Check out this post in my tools section to download the script.