Thanks for following up. Yes, the default setting for PULSE_DATA is in the config.properties file (which itself is at $HOME/.pulse2/config.properties by default). It can also be set in the environment or via a command line option, but if you're using config.properties at the moment I'd recommend sticking with that option. Note if you want to move the directory you just need to:
1) Shut down Pulse.
2) Move the directory to the new location.
3) Edit config.properties to set the new location.
4) Start Pulse.
The directory is completely self-contained and all paths are stored relative to it so there is nothing more to do.