Sorry, I assumed you were using C# because of the unfamiliar code I saw as the second parameter of your call to LoadAssetPath().
When I use LoadAssetAtPath() I use it like this:
var newMat = AssetDatabase.LoadAssetAtPath("Assets/blue.mat", Material);
I'm not sure if that's the problem or not. I would give it a try both ways. I don't have a machine with Unity handy, but I'm curious to see the output of:
Debug.Log(typeof(Material);
Debug.Log(AssetDatabase.GenerateUniqueAssetPath());
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