So the folder you posted says "Bioasshard" but the folder located in C: for where saves are stored is listed as "Bioasshard_Arena" and it only has a Saves folder inside.
Your instructions however specifically state to replace "Bioasshard" folder, not the files inside.
Still says code is invalid.
Ermm....... ??
EDIT: Tried renaming the folder in C: to just Bioasshard, launched the game, "Crocodile" still says invalid, closed game, game has now re-created Bioasshard_Arena". :/
EDIT, EDIT: Turns out I'm a twit, thought the code was literally "crocodile" and completely blanked on the "no, there's an actual code for crocodile tier". Herp derp... codes work now and probably did all along.
EDIT, EDIT, EDIT: So codes work, yay! Customization (other than name) is still locked however.