It's not a change within CB/Joomla but instead on your server, it also very much depends on what OS and web package your server runs. If you;re on a host then you can ask the host to make the changes for you.

Try uploading the extracted packagae to your tmp directory and then use directory install. Worked for me.

34fede wrote: Try uploading the extracted packagae to your tmp directory and then use directory install. Worked for me.

Yep, that would work, problem is that you'll get the error more and more in the future as more components increase in size..

Two major components are already 2mb+ (cb 1.4 and Kunena 1.6.2+ ) so increasing the php size if possible will save a lot of head scratching in the future

I followed the above tip, simply restarted all services on WAMP server and re-installed the com_comprofiler.zip. It worked!

Thank you!

Oh yes, previous to the installation I increased the max-upload-filesize to 16M as indicated in the README-NEW-INSTALL file.