Luckily, I just made a guide!
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To answer what you have:
1) From the guide: "
2b) You don't actually need MODO Bass any longer. If you'd like, you can go ahead and download MODO Bass 2 (version 2.0.2 is the latest) and just uninstall MODO Bass. MODO Bass 2 will allow you to access all of your basses as well as show you the (currently 8) locked/newer ones that are a part of MODO Bass 2, which wasn't included in Total Studio 3.5 MAX. You can also just keep MODO Bass installed if you don't plan on buying the extra MODO Bass 2 content." and "
Note: this applies to other older programs, as well. If you have, for example, AmpliTube 5 and Syntronik 2 installed, then you do not need to install AmpliTube 4 or Syntronik."
2) The Custom Shop is just the store for AmpliTube 5 and other software that you can buy extra sound content from. We only own every piece of software up until a point, so if you wanted to buy, say, the newer Mesa Boogie amplifier pack that recently came out? You can buy it via Custom Shop to have in AmpliTube. New drum kit for MODO Drum? Buy it in the Custom Shop.
3) If you want to save yourself the headache, I'd download and back up everything now so you don't have to worry about future installations. See the guide for more information.
4) Yes, you do.
5) Check the IK Product Manager's settings cog icon for where the default download location is. I'm unsure what the default location is for macOS. And there are two ways to back everything up: the compressed .zip files (which will save you space on your backup drive, but you'll have to unzip and install them all over again) or doing a 1:1 copy of your files to your backup drive (which takes up more space, but saves you from needing to unzip and reinstall all of the sound content). Totally up to you.
Hope this helps!