Mod description doesn't mention it, but you would need archive invalidation for this mod to work. The preferred method is BSA Redirection ... you'll find it on the Utilities menu in OBMM (Uitilities --> Archive Invalidation --> select BSA Redirection and then close OBMM).
If you already have BSA Redirection selected in OBMM then the other possible problem is UAC interfering if your game is installed in C:\Program Files or C:\Program Files (x86).
Doesn't seem to replace the texture like it should for me, not sure why, it just stays the default colors. I installed it via OBMM and used only one of the downloads so maybe it's just glitched out from something.
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If you already have BSA Redirection selected in OBMM then the other possible problem is UAC interfering if your game is installed in C:\Program Files or C:\Program Files (x86).