Connector Library File: Connectors are created during test script generation. They are stored in a "connectors.CONLIB" file by default. The file can be renamed as long as the extension is CONLIB.
Component Library File: Components may be defined for use with test scripts to represent graphically the type and layout of components such as diodes, capacitors, resistors, and more. They are stored in the "Component_Definitions.lib" file by default. The file can be renamed as long as the extension is LIB.
Source: NETS User Manual, Revision D, document 132-06035-0006, section 3.3.11.