Bob,
So your file shows a frame (without a back). Do you want the molding to be a separate component from the frame? I assume so. To get Follow Me to work with a profile outside the frame component, you'll also need a path that is outside the frame component. The simple way to do this is to draw a rectangle to fit inside the frame. Just click on diagonally opposite corners with the Rectangle tool. I would delete the face of the rectangle because it isn't needed. Draw the Molding profile on the inside of the frame. Put it along one of the sides, maybe at the midpoint. You can run Follow Me two different ways, I prefer to select the path first, then get the tool and click on the profile. If it makes it easier, hide the frame component before you start selecting the edges of the rectangle for the path.