Yes, I was doing exactly as you said. I even changed to just one parameter (460800), but the baud rate is still not appearing.
Hmm, this should work. Can you send me your baudrates.ini file (you can find my e-mail in the "About" window in CoolTerm)? I'll take a look.
Recent Mac OS versions have a feature called gatekeeper path randomization / app translocation. Essentially apps cannot see the files in their local folder, which in case of CoolTerm includes baudrates.ini. To get around it, move CoolTerm outside of its folder (say to you Desktop) and then back to its intended location.
I found that the only way to add the additional baudrates was to have baudrates.ini in the CoolTerm folder in the user "Application Support" folder: /Users/<username>/Library/Application Support/CoolTerm (aka ~/Library/Application Support/CoolTerm).
And I had to add the CoolTerm folder myself.
For some reason it didn't work when that ini file was placed in any of the other locations mentioned in this thread and in the readme file.
if CoolTerm is actually executed from within the path where the app resides, it should be able to find a baudrates.ini that is located in the same folder as the app. However, since macOS Sierra, the OS performs "App Translocation" for apps downloaded from the internet where it moves the app to a quaranteened location before executing it. You should be able to disable tanslocation by dragging the CoolTerm executable to a different location (such as e.g. the desktop) and then back to the previous location. After that, it should be executed from that location and no longer be translocated.