I don't see why not. You should be able to run the TD from any drive connected to your system. When it starts, it uses the location from where it is run (as opposed to using a location it recorded when it was installed). So, theoretically, after installing the software, you could use Windows Explorer to move the install folder somewhere else, and it should work. Although the installed shortcuts (on the desktop and the start menu) won't work. And the uninstall option in the control panel probably won't work properly either.
