single to double switch

Im trying to change a single light switch(RED,BLACK wires) to a double switch (one for the main light, and one for downlights) in the bedroom.
The single switch connected to light also had a pull cord switch which i no longer need, the wires for the pull cord switch are RED,BLUE,YELLOW,EARTH(neither end of this wire is connected). Do i still need this wire? On the new double switch the conectors are COM,1 WAY,2 WAY,(FIRST SWITCH) COM,1 WAY,2 WAY(SECOND SWITCH)...........can anyone help..........[/b]

You need to find out which conductor is the phase (probably red), put that into terminal COM of first switch along with a link across to the COM of second switch.
Put the black conductor (should have red or brown sleeving on it) in to terminal 1 way.
Now you could utilise the existing 3 core & earth cable for the down light switching by inserting the red conductor into terminal 1 way of second switch if you have not already run new cable in (terminate the other unused conductors to the earth lug after sleeving in green/yellow sleeving.

Thats one way.