Libraries are just addons, with special features built in to let them be embedded inside other addons. To install a standalone copy of a library, just install it like you would any other addon:
1.
Find the addon's download page.
2. Download it.
3. Put it in your AddOns folder.
Changing the minor version is also easy:
1. Open the file in Notepad.
2. Find the line near the top that starts with "local minor =".
3. Change everything after the equals sign to 999999999.
Now your copy will supersede all embedded versions in addons. Normally, when each copy loads, if its minor version is less than or equal to the highest minor version already loaded, it's ignored. By setting the minor version of your modified copy to some huge number that will never be reached by normal versions of the library, you ensure that your version is always the one that ends up loaded.
Now you can make any other changes you want. Spacing and text placement would both be controlled by SetPoint calls. Look around in the file and try stuff. If it doesn't work, undo and try again.