@Jordan-Slauny - you can install VSTs wherever you want. Most installers for VSTs will ask you for a folder for the application, and a folder for the VSTs themselves.

Personally I have d:\VSTs\x86 and d:\VSTs\x64 folders for 32bit and 64bit VSTs respectively.

Then, in Acid Music Studio,

1. go to view -> plugin manager
2. in the plugin manager window, on its toolbar, click the right-most icon "configure VST"
3. in the VST configuration window, click Add, and then browse to the folder you wish to add, for me this is D:\VSTs
4. click Scan
5. click OK

assuming your VSTs are working, you should now see them in Acid.