There are many ways to approach this cache, but the shortest and easiest is from the parking area at the end of the road east of the town of Truchas. The road and parking lot are on a land grant, but the cache and trail are in National Forest. We attempted to get permission to go through the grant and were told they were no longer giving or denying permission, in other words, you're on your own. Many years ago there were problems with cars being vandalized in this parking area, but we had no problem this time. So, should you call before using this route, if only to let them know you will be there? It's up to you, but it appears the risk of mishaps here is no different than other remote parking spots. Call the Espanola Ranger Station if you want the latest info. Or, start at Trampas Lakes, Truchas Lake, or any of the other trails leading into this alpine cirque. The terrain rating is partly due to the difficulty of driving to the closest trailhead via the tangle of roads in the area, or hiking from a farther trailhead.
The cache is on the south side of the falls at the top. Don't look close to the edge, it's back in the boulders where it is safe to walk. Take a little time, enjoy views of the falls from above and below, look at the flowers and birds. Then as long as you are there, you might as well hike up to some of those caches high above you.