Since I worked recenly with a team of Catia Designers and have done research into various CAD viewers I feel I can comment relavently. Adobe Acrobat 3D is what I have decided is the most appropriate viewer. I created an Acrobat 3D model from a Catia 3D model two weeks ago. I find the package to be almost scary powerful. One can get manufacturing data including accurate measurements and produce STL format files from the Acrobat 3D models. Since the latest Acrobat PDF viewer is free and downloadable, anyone can view the Acrobat PDF files you produce. Some functionality is only available to those with the Acrobat 3D software installed, including producing markups and cutting the assembly in half to view interior parts, but those with the full-up package can provide those type of views.
There is an issue with using SmarTeam with Adobe Acrobat 3D, at least with the version of SmarTeam that was available to me. Acrobat did not like that Vault system and could not access subassembly parts. It may be that that SmarTeam version is old and did not take into account the Acrobat software that is much newer. That is a common problem with software as new releases come into being.
Since Catia is relaively expensive for the various add-on modules and upgrades, many Design groups are slow to make upgrade purchases.
I got around that problem by using a STEP translation of the Catia 3D model and bringing it into Autodesk Inventor and producing the Acrobat 3D file from there. Unfortunately the STEP process stripped out pertinent Assembly Tree Subassembly data.
It may be possible to use Save Management to make a copy of all subassemblies into a folder that bypasses SmarTeam and print an Acrobat 3D file that contains the Assembly Tree data. I do know that Acrobat advertises compatibility with all major CAD software and that it works well with the packages I have tried including ProE, AutoCAD with Mechanical Desktop and Inventor.
My vote for your problem is Acrobat 3D, but you will have to research the SmarTeam issue. Adobe is very accessable when you are trying to purchase their software and will provide expert advice via their sales staff.
I hope this helps,
Randy Van Nostrand