There doesn't appear to be a setting so you will have to do it manually thru regedit,it works without issue or at least for me there's no prob,bear in mind that once setting is changed you'll need to transfer all the contents of windowblinds folder including the folder itself to the new location as it won't be automatic

type "regedit" without the quotes into run,navigate to the two following folders in the tree

HKEY_current_user

Software

Stardock-just expand the tree till you find INSTALLATION,right click on it & retype the directory to where you want it

HKEY_LOCAL_MACHINE

Software

Stardock-again look for the worded folder called installation retype new locale

The only thing i don't know at the mo is if impulse will see the new direction,soon find out when it downloads an update to wb i guess..lol..

ps: yep it's an old post thought i'd answer it coz i was looking for the same answer till i got bored of searching.

EDIT: Too be on the safe side contact stardock support to confirm above will be ok or just hijack a current thread that has a mod or stardock admin in it & ask the question..mwahhhhhh