Updated with comment based help -and based on feedback.

Release Notes
Short install guide:

(Extract to one of your folders given in $ENV:PSModulePath to simplify usage.)

Steps to install to your Modules folder:
Extract content from zip file to
~/documents/windowspowershell/modules/Windows7Library

If you don`t have the Modules folder in your WindowsPowershell folder, just create it.

From inside your Powershell session type the following command:
Import-Module Windows7Library

PLEASE NOTE
If this fails, please check that you allow scripts to run. If you demand Signed scripts, this script is not signed.
Also note that you might have to Unblock the file (as the file is downloaded from the Internet).
This should be done on the file Windows7Library.psm1 that you just extracted. (Right-Click the file, Properties and Unblock)

The commands inside the module is:
*Get-Library
*Add-Library
*Get-LibraryFolder
*Set-LibraryFolder
*Add-LibraryFolder
*Remove-LibraryFolder
*Get-KnownFolder

How to use?

Get-KnownFolder
To see all the knownfolders:
Get-KnownFolder -list
To get the path to the Documents Library
(Get-KnownFolder "DocumentsLibrary").Path

Get-Library
To read the Documents Library object:
$library=Get-Library -LibraryName Documents
Your could now play with the Library object:
$library | get-member

Get-LibraryFolder
Returns a list of the defined library folders
Get-LibraryFolder -LibraryName Documents

Add-LibraryFolder
Adds an folder to the library
Add-LibraryFolder -LibraryName Documents -FolderPath "\\server\share\folder"

Remove-LibraryFolder
Removes an defined library folder
Remove-LibraryFolder -LibraryName Documents -FolderPath "\\server\share\folder"

Set-LibraryFolder
Set-LibraryFolder lets you define the default save folder for the library (note that the folder must be included in the library)
Set-LibraryFolder -LibraryName Documents -DefaultSaveFolder "c:\docs"

Add-Library
With Add-Library you could create your own Libraries
Add-Library -Name "My Own Library"

Have fun