User settings are not stored in the installation path on a regular install for several reasons, some of which are:
1) Under many circumstances, Windows does not allow applications to create or update files in folder within Program Files.
2) Storing the settings as recommended by Microsoft allows them to roam with the user in a roaming profile.
See here for the gory details:
http://www.microsoft.com/technet/pro.../w2kapsp4.mspx
On a USB drive, these limitations do not apply, and the settings can safely be stored in the exe path.
We do have on our list a way to explicitly store the settings in the exe path even when running from a non-removable drive. For now, you can back and restore these locations to transfer the settings to another computer:
Registry: HKEY_CURRENT_USER\Software\Kinook Software\Ultra Recall
File system: %APPDATA%\Kinook Software\Ultra Recall