In order to use the Newliquidcrystal_Wire2_1.3.5 library, the Arduino IDE (with "Teensyduino" additions)
will have to be modified a bit to keep things compatible.  

First, you have to remove the library named "Wire" from the Arduino/hardware/Teensy/avr/libraries directory. 

Next, run the IDE and under the "Sketch" pull down menu.

Click on "Include Library" and then under the list that opens, click on "Add ZIP Library".  

Point it to where you have the "Newliquidcrystal_Wire2_1.3.5.zip" file saved, select that file.
and click "Open".  The new library will automatically be saved to the proper place.  

Remember, In order for this library to work properly the "Wire" library in the Teensy's hardware libraries directory (see above) MUST be deleted.  

Do NOT delete the "Wire" library  in the "Arduino/ hardware/arduino/avr/libraries" directory though or you won't be able to compile a lot of arduino programs.