Changed out 3-way switch with 6633-p and it will not operate light. this is a 2 location 3-way being used on a dining room chandelier.

Can you please provide more details about the device or equipment you are referring to?

6633-pl is single-pole and 3-way dimmer made for max 600 watt incandescent or halogen load. This dimmer does not work for CFL or inductive loads such as motor.

I have no idea what a 'locator light' is?? Do you mean the LED indicator that shows when power is connected?

Troubleshoot section of manual does not show any solution for LED malfunction.
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The height you hang your chandelier above your kitchen tabledepends on the wattage of the light bulbs and the of the chandelier. If you are using lower wattage light bulbs,you should hang the fixture about 2.5 feet above the center of your dining roomtable. If you are using higher wattagebulbs, I suggest hanging it 3 feet about the table so it is not too bright.

Install one dimmer at the load end feeding the light. Install a standard 3way switch at the other end. Make sure the dimmer switch is rated for the type of bulbs in the fixture. ie Led, halogen etc.

You miswired the switch. One of your black wires is misplaced.

Lutron Dimmer manuals
http://www.lutron.com/Service-Support/Technical/InstallationInstructions/Pages/InstallationInstructions.aspx?syst=Dimmers+%26+Switches&prodn=Maestro%C2%AE+dimmer+%26+switch

Lutron manuals show a couple things that might be affecting you lights.
1) Wattage: If you have wrong wattage dimmer
2) Type of light bulb: Dimmers work on different types of bulbs
3) Wiring: You say you got 3 wires going to the chandelier? Why you got 3 wires? Is this a 3 way switch? Are the chandelier bulbs wired separately so you can control groups of bulbs with different switches?
Does the dimmer have 3 screws? A dark-colored screw and 2 brass screws? If so, then that sounds like a 3-way dimmer. A 3-way, is where more than one switch controls the same light.

Does the dimmer have 2 screws? Then that dimmer controls a single circuit. Your black Hot wire from breaker box connects to one screw and the black wire to Load connects to other screw.
A quick glance at Lutron wiring manual shows that Hot and Load wires connect to either screw.
The question is your 3-wires from the chandelier ... does the black Hot wire from breaker arrive in the ceiling box first? Or does it arrive in the wall box first? If your Hot arrives in ceiling box, then the Hot must come down to the switch box and connect to a screw on the dimmer >>> a second wire connects to other screw on dimmer and travels up to the ceiling box where it connects to black wire on chandelier. The white wire on chandelier connects to white Neutral.
4) Dimmer might be bad

As a general rule for timers and dimmers:

The Black dimmer wire connects to black hot wire coming from breaker (122V line)
The red dimmer wire connects to Load (wire going to chandelier)

The wall red wire that is capped could be a couple different things. a) It could go to a second switch that was used to control the chandelier. b) it could be another wire that goes to same ceiling box as chandelier to be used to control a fan, except you don't have a fan. In the second case, if you install a fan with a light, you could control fan and light separately.

The green is a ground wire that connects to bare copper wire in box. The bare copper connect back to main breaker box on the Neutral busbar.
White wires that are twisted together inside your light switch box also connect back to to main breaker box on the Neutral busbar.
The ground wire and neutral are a redundant safety system to protect you from electrical devices and appliances that have 'shorted'
The black hot wire connects back to the circuit breaker.

For example, each circuit breaker controls one area of household lighting. The black white and copper wires leave breaker box in a single romex cable. The romex travels to a junction box in the area where the lights are located. The junction box is usually a switch box or a ceiling box. From the junction box, the romex travels to each other switch, light and receptacle box in the area. So each box has 1 hot and 1 neutral and 1 ground that is connected in a line that leads back to breaker box.

Here's a couple pages that make home wiring easier to understand:
http://waterheatertimer.org/See-inside-main-breaker-box.html
http://waterheatertimer.org/240-v-water-heater-circuit.html
http://waterheatertimer.org/Install-owb.html

May you please tell me how many wire are their at the two way switch and what color are they.

It depends how high your ceiling is and the size of the chandelier. If your dining room is eight feet tall, hang the chandelier 27 to 36 inches above the table.

Visit www.metropolitandecor.com and ask their lighting experts for more info.

Unfortunately, the hum is normal for operation of that type of dimmer at low levels.  Sometimes the lamp filaments will also "sing" a high pitched sound.