Having just looked a little closer, I don't believe registry entries matter with this application. All that is needed is contained in AppData. So there should be no problem for you running this the way you want if both computers have the app installed. You'd just have to sync the data between computers.
It would be quite easy for eMclient to make this into a portable application from what I can see of the app. They just need to use local folders inside the program's directory for the profile data, which now write to AppData.
But I understand that this only became of interest to people here because SoftMaker Office offers the portable option with their suite, which is only natural.
Which makes me want to emphasize again how glad I am SoftMaker kept the portable feature in, because I LOVE it

In fact, I logged in to post how pleased I am with the 2012 suite.
So I guess I should say that now: I am very pleased with the new 2012 suite, great work everyone. In my opinion it is the best alternative to MS Office out there -- and I tested them ALL. Plus, the suite has been kept small and agile (portable option is great). Keep on doing your good work, SMO's popularity will only keep growing.