Michael, yep I'll need more help. I found another request similar in nature: "Installling New Color Looks for Color 1.5 - Invalid Location?" An answer offered this tip...Press the GO menu heading in the finder and hold, then press and hold the OPTION key. Actually, nothing changes. No additional menu item called LIBRARY appears. I'm in 10.6.8.
My guess is that then I should drag these news 'colorgrades' over to the folder in the library appropriate for Color (1.5.3) but I can't get that far.