I’m assuming that by “ae 4” you mean that you’ve upgraded to AE CS4. As far as I know, the codecs, etc. should all be installed when you install the creative suite application. Do you have the suite with Encore, Premiere, etc. or just After Effects by itself? You might check with Adobe and see if the Blu-Ray output is only included with the suite. I don’t really know. Sorry.
This is where the blu-ray setting should be:

These are the settings that I normally use:

-E