I don't use Photoshop to assemble Panoramas from HDR images but do it regularly with Hugin. My procedure, Lightroom edits to bracketed photos then synchronized, moved Photomatix for HDR, then Hugin for Panoramas. Just the way I've always done things even though Hugin can handle the entire process. I can't think of a reason it wouldn't work with Photoshop.
Tom From Beautiful Smith Mountain Lake in Virginia
I have done this numerous times. Just to be clear my process is to take several exposures 2 EV apart as I capture a typical panorama. Each image in the panned sequence is captured with the intent to make it an HDR blend. I then process each frame of the panorama as I would any other HDR image using my favorite program Oloneo PhotoEngine. I then bring each of those HDR TIFFS into Photoshop and hand stitch them into a panorama. The key is to use the exact same adjustments in Oloneo PhotoEngine as I process each HDR frame so that I get a smooth blend in the stitched pano.
I have just figured out how to do this. I just did a 5 frame sweep with brackets for -4, -2, 0, +2 and +4 for a total of 25 images.
I exported them (TIFS) one sweep at a time into Hugen. I first processed the zero compensation sweep because all the frames were readable and it was easy for Hugen to auto generate the control points linking the common elements between adjacent frames. Hugen then made the zero compensation panorama and I saved the PTO file.
I then renamed the +2 compensation files to correspond exactly with the original names of the previously used zero compensation files. I then ran them through Hugen with the PTO file from the zero compensation frames. I did this for the remaining three other sweeps.
This served two purposes: 1) It made the final geometry of the five sweeps identical so they would be easily used for HDR later (because I used the same PTO file), and 2) It permitted Hugen to make compensation points for frames that were unreadible, either very dark or very light. Otherwise it would bomb out.
Once I ran the five sweeps through Hugen and generated the five panoramas, I ran them very easily through Photomatix.