Does each update get its own folder?
No - each future update will not get it's own .exe and program group on your system. The reason it is happening right now is because Recast is considered a new product. It therefore associated itself with TimeTrax Classic, but did not remove the application as if it were replacing it.
In the most recent releases, there have been some changes to make it easier for the user to understand what is going on and to prevent users from getting into the never ending circle.
D
Time Trax