Problem upgrading Project/Events from Ext HD

Hi folks, I have a problem converting 10.0.9 Events/Projects to 10.1. I successfully converted from a 2nd internal drive of my MB Pro a couple weeks ago. Today I'm trying to upgrade manually the Events/Projects folder from an external FW800 HDD and can't. See my attached image, the folders are grayed out.
Is it possible that those folders are from something earlier than 10.0.9 and that is what's wrong?
Appreciate any suggestions or pointing out something that will have me saying, duh :pinch:

What happens when you click the update button? It looks like it already has what it needs to go ahead.

I was just a bit confused in my logic between the folder structure we had and now Libraries I guess. I was expecting to selectively choose the Projects and/or Events one at a time, not on the whole volume basis. It slipped my mind from only a couple weeks ago that I was shifting things around with EM X first. I'm back on track now.
Thanks Darren!