In Snow Leopard, I could create a custom ColorSync profile to reduce PDF size (but not with quite as a dramatic drop in quality as the default PDF Reduce File Size) and it would show up in Preview as an option.
Now, in Lion, I still have the profiles, but they do not show up in Preview as a choice. I also cannot edit the default Reduce File Size profile in ColorSync as it is perma-locked.
The solution I realized involves the following:
I hope this workaround can hold up for now. I do admit I miss the ability to see and use my quartz filters right out of preview.
Thanks for this suggestion, but I cannot find the "Library" folder in /Users/YourName/. I only see a Library folder in Macintosh HD.
As for the other work-arounds, I really appreciate it. The only issue I have with that, is it erases all existing bookmarks every time I compress a file directly in ColorSync.
Thanks. Works great.
Now I need to figure out how to get a PDF to open in Single Page view as well as Bookmarks showing in Preview on Lion on every computer by default. Preview seems to bypass my PDF setting.
I can't find a way around this. Snow Leopard Preview seems to abide by the setting the PDF was made with.
Ok, got it now.
Needed to generate new filters (Kopy the normal Reduce File size and changed it)
Then I had to transfer them like midnightmac said.
And then it works. I reduced 11,5 MB to 2,7 MB with still accaptable results.