When I checked your log again the folder is in your Application folder. I'm not sure how this will effect the launcher as it is not in the recommended place. The folder you want to backup and delete is /Applications/libraries since that is where you have the Install folder pointed to. I'm not sure what is in the Application folder as I do not own a Mac so be careful and backup. If that does not solve your problem please follow the guide linked in my previous post and here to change it to a folder named FTB on the Desktop, the recommended place.