I can't run two instances of IronPortable from separate directories like:
IronPortable1
IronPortable2
Can you?
I got this error message: "Whoa! Iron has crashed. Relaunch now?" On the other hand it works flawlessly with SRWare Iron (Portable) 1&2.
It isn't supported and likely won't be. If you want to run 2, you can use the semi-portable SRWare zip version.
Sometimes, the impossible can become possible, if you're awesome!