Moving location of iMovie Library in iMovie 10

Dear all,
I have recently started to use iMovie 10 and as I had already moved my Library in issue 9 to an external harddrive, I thought all would work swimmingly.
Unfortunately, iMovie no longer points to that old library.
I have discovered how to open extra libraries by going to: File/Open Library/Other
and by also pressing Option whilst opening the app, but if I don't do either of these things, it always opens to an new, empty library in my Movies folder.
I've searched the web, and tried various tricks, including a terminal command I found somewhere, but nothing works. Do I really have to hold down option each time I open it?

Surely linking to a library on another disk is childs play?

Any advice greatly appreciated.

Try this. Delete the Library in your Movies folder. In the external drive, create an Alias to the Library there. Drag it to your Movies folder, then rename it by deleting the "Alias" bit.

Now when iMovie goes to open the Library in the Movies folder, the Alias should point it to the Library on the external drive.

I haven't tried this in particular, but it worked for things like iPhoto and iTunes back in OSX 10.4

Thanks for the advice and sorry for the late reply. I forgot to subscribe to my own thread. I'll try this out and get back with an update.