You are pushing my personal knowledge and memory, but here goes...
I beleive that once the RTE is installed, it should associate itslef with the .llb files.
At that point you should be able to double click on the LLB and provided the VI you are after is marked as "top level" AND it was compiled in the same version of the RTE then it should open and run.
If it was not marked as top level, you will be presented with a navigation window to selecte the VI you are after.
So...
Try the install and then try to open the llb.
Ben