Sorry to bring this up again, I know this is an old thread but this is exactly what I would like to do.
So I instaled Forge 1.6.4 in the new launcher 1.3.7 and added some mods. But I have another modpack from 1.5.2 that I would like to run from another profile.
Correct me if I'm wrong but, when I install Forge 1.5.2, it creates a new profile (so far so good) but will look for mods in the same directory as the newer version correct?
Both will try to find mods from ".minecraft/mods/". I read something about creating a new game directory, but idk if that is the case since both are in the versions folder from the same game directory.
Again this must be a stupid question, I'm sorry but I just started to learn these things a couble days ago.
Edit: I installed both Forge versions from the the installers.
1.6.4: http://files.minecraftforge.net/maven/net/minecraftforge/forge/1.6.4-9.11.1.965/forge-1.6.4-9.11.1.965-installer.jar
1.5.2: http://files.minecraftforge.net/minecraftforge/minecraftforge-installer-1.5.2-7.8.1.737.jar