PrPro seems to apply a “relative” reference (12th LUT down … ) to LUTs in the Technical & Creative folders within the Adobe/Premiere Pro 2017/Lumetri/LUTs folder chain, and “absolute” references (JonDobBlueDogSpecial.cube) to LUTs in folders outside of that location, say on your desktop or in a LUTs folder you might put on your system drive.
And as referenced elsewhere in this thread, if you put LUTs into the PrPro folders, you *may* need to also put them into AME’s folder tree to have them read by AME. As apparently, if it sees a reference to those folders, it looks for the 17th LUT, not say “JonDobBlueDogSpecial.cube” by name … but within it’s own folder tree.
But again, *outside* the Adobe folder tree, it searches for LUTs within the specified folder by name.
So it’s awful nice to be able to scroll without having to constantly navigate through folders … making using the built-in Technical and Creative folders attractive. Though … there may be problems with that use.
And some older LUTs that used to ship with SpeedGrade and/or PrPro can indeed cause issues.