Well, after trying to get help making it with no luck for ages, I finally found the guide in the requests forum and managed to do it. I've always wanted to play these guys so in case anyone else wants to turn their male troll into one I'll include the file here.
Note: Ethereals are missing many animations such as sitting and mounting. I'm currently in the process of turning the raptor mount into something that would make sense with an ethereal "standing" on it - like an energy disc kind of thing. Unfortunately, this requires turning spell particle effects to creature models - something I haven't figured out yet.
Screenshot: http://img252.imageshack.us/img252/1...picturejr4.jpg