Nitro-
Copy the hyperspin Media folder to the AM layout folder. Then create display names to match the emulator names in the Media folder. So, for instance to setup Nintendo 64 we create a display name that matches this same name in Media. After, the display name is created, then select "Media" for the layout. AM checks the sub directories of Media for a name match, like Nintendo 64. So, make sure the name is an exact match.
One more thing to note, the wheel art and video snaps are still defined in your emulator.cfg. So, it doesn't matter where you keep this type of media, just define the proper path to it.