@Dono, you are correct, the profile name IS required, as opposed to the format shown in "Method 1". Perhaps it is not required in the "Portable" version because the directory is self contained, so to speak. Unfortunately, while CCleaner appears to work as expected, the Intelligent Cookie Scan feature, fails in my experience. I can, however, delete them manually from within CCleaner (Options -> Cookies) by selecting all of the cookies in the "Cookies on Computer" box, right clicking, and deleting them. All of the cookies in the "Cookies to Keep" box are preserved. If anyone using "Method 1" that is seeing the same issue, has a fix for this, I'd love to hear to it.
UPDATE: For the sake of completeness, although I can't explain the initial failure of Intelligent Cookie Scan, upon running CCleaner the following morning, it did indeed complete successfully.
@Dono, your post was of great value to me, and I am quite certain that others, lucky enough to sift through search results and find it, are grateful as well.
@DVDBANE, thanks for your reply.