I downloaded this along with sony vegas 6.0 and just installed this piece of software but I am completely confused as to how to access the loops and samples.
If you are referring to the Sony Loops and Samples Reference Library it works with the Sony Media Manager component. After you install it, go to the Media Manager tab in Vegas and press Media Library Actions button, then select Options... and select the library from the Reference Library dropdown.
This does not contain any loops or samples themselves. It is a reference library of metadata about all the loops and samples that Sony sells. It has two uses: 1) when you purchase the real loops and samples, it will add tag information to the Sony Media Manager so that you don’t have to and 2) it can be searched to find a loop or sample that meets your criteria but then you have to purchase the real media from Sony.
If you use the Media Manager with Sony content, the reference library can save you hours of time spent cataloging and tagging all of your Sony media.