After playing around with various shading settings and experimenting with masking, I think I'm starting to figure out how to recreate the anime look using Moho:
It was a bit complicated at first, but moho is surprisingly efficient for this kind of work... even more so than most page layout apps I've worked with.
In case anyone is interested, I've uploaded the Moho project file for this character:
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http://www.bones3d.com/moho/anime.moho
(273KB Moho 5.3 document)
I've also come up with a few ideas for animating characters like this, such as creating hair in layers so it can be animated using the bone tools. This also opens up other possibilities, such as introducing physics to a character's hair using bone dynamics, allowing it to respond to your character's movements.