when you install the HALion 4.x and the Updates you always need to choose "Install for anyone that uses the computer". If you missed this once, this issue can happen.
There are two possible locations in Windows for the presets, so just copy/paste them to both locations:
So take a look where the Flephraser Presets are and copy them to the other location.
My PC: Intel I7 950; Gigabyte GA 58x UD5, 12GB RAM, NVidia Geforce 285
OS: Win 8 64bitCheck out Steinberg on YouTube, Twitter and Facebook!