Hi Colin
Yes you can do this but I'm using an old PC & don't have CFS2 installed right now so this is from memory. I assume you already have an MB shortcut on your Desktop. If not, you can create one from the Start/Programs menu (right-click/Create Shortcut) & drag it onto the Desktop.
Take a copy of the existing MB shortcut. The quickest way is to right-click on it & select Copy. Then right-click anywhere on the Desktop & select Paste. You can rename this second shortcut to any name you wish. Now right-click on the second shortcut & select Properties. Point the Target path at the CFS2.exe file of your duplicate install before clicking OK. That's it.

PS. If you have more than one duplicate install of CFS2 you can do this as many times as you wish.