I am trying to set up a profile for 1.4.7 Forge, but I am having some trouble. I know Forge will load the AppData's mods folder, but I want to contain it to an certain folder, 1.4.7 Modded for example. How would I go about creating the 1.4.7 Forge Profile and installing the FML to a specfic folder (1.4.7 Modded). Any help would be appreciated.
There are profiles for a reason, install 1.4.7 first, then run the automatic forge installer. Install the mods into that folder. You cannot customize the folder name without going into the code and changing the file directory name.
I know this sounds like a bit of an annoying process - you'll have to do it every time you want to play a different modded version - but why not try this: Have separate folders outside of .minecraft for all of your mods which require different versions of Minecraft. When you want to play a certain version of Minecraft with mods installed, move them over to the mods folder inside .minecraft, and play. When you're done playing or want to change versions, swap them out.