After developing a stack of effects for grading GoPro Protune, I selected them and did a Save as Preset. I wanted to move them to my laptop. The Apple steps are:
1) Show in Finder
2) Compress into a ZIP file
3) Transfer the ZIP file
4) Unzip the file in ~/Library/Application Support/ProApps/Effects Presets

However, on my laptop, that effect shows up as the BIG RED ICON with yellow CAUTION tag.

Is it because it's more than one effect maybe? Any ideas?

You have 2 ProApps folders on your Mac, one in the base hard drive (Library/Application Support/ProApps) and one in YourUserName (Library/Application Support/ProApps) - did you choose the correct one?

I used only the ProApps folder under my home directory. Other effects I transferred are fine. Only one shows up as "missing".