Alternate between steps 2-5 until you have the effect you want. Make your last border addition quite a bit larger, anywhere from 25 to 40 pixels. How you do the next steps is up to you. I will simply tell you how I did them for the frame I am using for this tutorial. Working from the center in, with the wand tool , select the first white border you added.
Flood fill with a texture or a color.
If using a solid color make this a shade or two darker than you will be using on the outer band. Select, one at a time if you have several, the accent bands and apply a color or filter. This will permit you to have a transparant area which you cannot get if working on a background. Last, but certainly not least, save this as a .pfr to your Frames folder in PSP6. Picture Frames you will find it as the very last frame in your drop down list.