Attached Link: http://kb.adobe.com/selfservice/viewContent.do?externalId=328880&sliceId=1

Okay - to direct PS to another folder for your plugins, you do indeed want Preferences -> Plugins and Scratch disks. You can then tick the box marked 'Additional plugins folder' and then click Choose... to find that folder. Then it should work with the plugins in that external folder as well as in the plugins folder that is part of PS' normal directory tree.

But - the problem with the .dll is not so much that it's missing, as I understand it - it seems that this means that PS is having problems with legacy plugins; for some reason, it then generates this .dll error. I've attached a link to the Adobe KB which might help. There are further explanations on lots of sites on the net.

Steve