My tests show that it does produce images in the scene folder of HTML5 tours using TW 7.00.120113. You should have a preview cube strip, two folders Iphone and Ipad (these contain the HTML5 cube face images).
Be sure your import images comply with the HTML5 guidelines.
Can you tell us what your import images are?
I.E: Spherical, 5000x2500 or Cubic Tile Faces (cube size) or maybe Cylindrical (Width x Height).