Uuuuh... well, by that description it can be many things. Likely a problem convertying, a mod conflict, or your load order is wrong. Make sure Morrowind_ob is placed as THE FIRST mod after Oblivion.esm, with Bloodmoon_ob and Tribunal_Ob just after them.
It must be another mod that causes the conflict, maybe you should install Streamline. Download it here http://www.tesnexus.com/downloads/file.php?id=10400
Streamline enhances the performance of Oblivion by reducing stuttering and lag, and smoothing out gameplay. It does this by maintaining much cleaner cell buffer and video ram caches while the game is running and the player is moving from place to place. You should try it and then tell us what happened.
I lost my Whole enchanted apophis armor and almost all my things stored in the Anvil manor including my morrowind stuff.
This is the letter from my brother and he asks what the F**k happen there.
Could this be the streamline's fault.