I see this didn't get posted over in here. So in case anyone did not read about it elsewhere RC3 of the Film Looks package is out. 
http://www.jetdv.com/scripts/RC3_VegasFilmLooks.exe
 This should fix the "Directory not found" error when running the script. It also fixes a few other errors. If no other problems are reported we will probably go for release version 1.
 there are already a few fixes and changes done for the next version: 
 -  Read Me shortcut fixed. 
 -  Frameserver is now direct downloaded for the latest version.
 -  new looks.
 Any other problems let us know.