I allow it herewith.

It's undocumented, but you need to copy the following files from the Gamestudio installation: acknex.dll, ackutl.dll, ackold4.dll, med.exe, password.txt. With those files the acknex.dll can run outside of the Gamestudio folder. Of course you must not distribute this combination!
However, the 'official' way with publishing the EXE is not a productivity killer at all when you do it right. Just use the WED command line options in a batch file that is automatically called after every EXE compilation.