You'll see that your new switch has 3 terminals - common(com), L1 and L2. This is how it should be done....Red goes to the common (on its own, at the top), Yellow goes to L1, and Blue to L2. The separate earth wire should connect to the metal box sunk in the wall (if indeed it is metal). If the lamp doesn't behave, swap round L1 and L2 connections. Make sure the light circuit is switched off at the fuse box - even though the lamp maybe off, the circuit is still live.
John, February 2008