1. For fast & easy access, go to your LW Library window, select Saved Files folder & press the Explore button. Sample image here:
Using Library Explore button to access downld folder (click on link) & the folder will open up for you. You can check where your download location is by hovering your cursor over the saved files folder or the lower music, video, etc. folders. Also can change in settings of course under Tools > Options > Saving.
2. (a) See
How to Change download location (click on link)
(b) See
How to Change download location (click on link) (specific for folders / media types)