In the interest of simplicity, use the portable version of OOo for this as there's some DLL hell that needs to be sorted out which Haller has already done (stupid fsking visual c++ 9).
1. Take the 'App\openoffice' folder from the portable installation and place it where you want your OO installation to be. Rename it if you like.
2. Go into the 'program' folder inside the 'openoffice' folder and delete 'setup.ini'.
3. Open 'bootstrap.ini' and change the line 'UserInstallation=$SYSUSERCONFIG/OpenOffice.org/3' to 'UserInstallation=${OOO_BASE_DIR}/../Settings'.
4. Done
Your settings will now live in 'openoffice\Settings'.
Note: This does not take into account use of Java as the way OOo handles finding it is COMPLETE AND UTTER BULLS**T.
Ehtyar.