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I changed the "shared content folder" in Spec Editor to a network drive, and now my colleague can't launch Catalog Builder. Why would this have happened?
Shared Content Folders need to be updated on all machines when it gets changed (including all CAD Users on projects referencing catalogs for their specs). Your colleague will also need to change their Shared Content Folder location (via the Tools menu in Spec Editor) or the AutoCAD Plant 3D command PlantModifySharedContentFolder command.
Hope that helps,
-damian