KM has two places where your profile can exist. You can find your profile folder by using EDIT - CONFIGURATION - PROFILE DIRECTORY.
User/Application Data/K-Meleon is one of the places. I, however, always keep my profile with the KM program. My current one is located at C:\Program Files\K-Meleon\Profiles\f6fqu4sq.default. Note that you must give yourself write authority to the folder if you put it with program files.
JamesD, thanks for your reply. I copied my backup user profile into the 1.6 profile directory. It appears to somewhat work, but nothing else does, unfortunately. I also copied my toolbars.cfg file into 1.6 as well. Unfortunately, I have no icons and essentially just a window with most of the options missing.
There is something major I obviously am missing, so I will just stick with 1.5.4.