I found this guide to Tethered Shooting with EOS Utility:
http://www.jibble.org/canon-tethered-shooting/(There are a lot more out there with a search.)
1. In EOS Utility, you go to File > Preferences and choose your Destination Folder. (I'd choose some sort of temporary folder, if it were me)
2. In Photo Mechanic, File> Live Ingest, set your Source folder to the folder you chose in EOS Utility.
3. I'd leave the monitoring options set to default, waiting 30 seconds for new files. But, if you find it's working fine, you can nudge that number downward to speed things up a little.
4. Then choose where you want your photos to finally end up in Photo Mechanic as the Destination Root Path, (optionally you can specify a subfolder, automatically by date for instance) (This would NOT be a temp folder)
That should do the trick. Let me know if you need more info.
-Mick