Someone reported on the forum earlier today that the extension download stopped working a couple of days ago. I already had it installed so I haven't had an issue, just thought I would let you know what I heard.
It doesn't really matter what the name of the folder is. It just needs to be something that you can easily find and identify. I keep mine in a folder on my desktop called "MTS". The important thing is just knowing where to point Chrome when you click the Load Unpacked button in the extensions tab.