Here's what I did. I put the file in the tmp folder and couldn't get the telnet command to work. I then went directly to the box and started the Dream-Explorer plugin and navigated to the tmp folder, found the file and hit menu. Option 0 put it in the executable mode and highlighting the file and hitting the OK I had the option (2, I think) which caused the plugin to install. I didn't delete the old YouTube plugin, just did the install right over it.

I wasn't as lucky with getting my YouTube to work even after I rebooted but thanks to your insight, Megatron817, I FTP'd to the YouTube key file in etc/enigma2, added API key, Client ID and Client Secret to the key file and installed it in the box. All is well and it now works fine.