Looks like the app isn't what I was looking for exactly.
Yes, I did enable OBEX file transfer. I've been able to send files from PC->Phone and vice versa, Phone->PC via BT.
From PC->Phone, it was a selecting a file and then right clicking it to send to the Nexus 4.
From Phone->PC, same deal. I selected a file and then sent it to PC/notebook.
This is not the most efficient way to browse/view/manage files, but it works for now.
I'd like to take it a step further. Is it possible to view/browse the Nexus 4 via BT as if it were connected via USB? That's what I'm wondering...