Spinning Beachball Importing Kontakt 2 Instruments

[fontane]

ok... i went through the manual, went through a few posts...
my K2 library is on my hard drive...
- i open the extractor via mach 5
- click on the "NKI" button
- locate my K2 library via folder window
- select my Asian Percussion instrument

AND THAT'S IT

spinning beach ball forever...

i can't click save. i can't click anything else... i can just get hypnotized by the pretty colored ball

OK, so am i doing something wrong here? anyone encounter this before? are .nki files different in v2 than they were in kontakt v1?

BOO