if it's just the folder, then it goes inside the app folder. the forwarder goes into your wad manager, that is the channel it's self. load the wad manager, an load the channel. you'll see the channel on the wii menu. were did you find this packaged together? most of the ones i have seen have one or the other.
open apps folder, this goes in to the app folder on sd card..
wii 64, goes on the sd card (not in apps).
then add channel to your wad manager. an install it.