Depending on what version of i1 Photo you have you will require either the software only i1Publish Upgrade A or B to enable the printer profiling features in i1Profiler. Alternatively you could upgrade to the newer i1Pro2 hardware with their A or B upgrades as well.
As Apple removed PowerPC support in 10.7 with Rosetta, Eye One Match no longer works and there are no workarounds except for emulation or running on a 10.6/Windows system. For example, you can opt to get Parallels/VMware with Mac OS X 10.6 Server (only Server is licensed, not client) to run which still has Rosetta for Eye One Match or alternatively a stripped down Windows XP (or similar) environment would work as well.