Yes, the DMU has a log file but its content is not very reliable/legible in release 1.0. The next release should have this fixed. The SQL should be visible on the log level FINEST. The default log location is %APPDATA%\DMU\ on Windows and $HOME/.dmu/ on Unix-like systems.
One place to check what was executed during conversion, though undocumented and thus subject to change at any time, are the repository columns SYSTEM.DUM$SQLTEXT.SQLTEXT (BLOB with the SQL statement) and SYSTEM.DUM$SQLTEXT.SQLCODE (execution error, if any). The column pair [SYSTEM.DUM$SQLTEXT.STEP#, SYSTEM.DUM$SQLTEXT.ORDER#] may be used to sort the statements in the approximate execution order (some statements may be run in parallel so the order is not deterministic).