The better way to use two or more versions of K-Meleon is to install it under another folder, and before launching it add the file profile.ini in kmeleon root folder. The folder profiles will be created under K-Meleon folder and not under "Documents and settings"
Install are now completely distinct.
Content of profile.ini
[Profile]
path=Profiles
isrelative=1
A+
Mozilla/5.0 (x11; U; Linux x86_64; fr-FR; rv:38.0) Gecko/20100101 Ubuntu/12.04 K-Meleon/76.0
Web:
http://jujuland.pagesperso-orange.fr/
Mail : alain [dot] aupeix [at] wanadoo [dot] fr
Ubuntu 12.04 - Gramps 3.4.9 - Harbour 3.2.0 - Hwgui 2.20-3 - K-Meleon 76.0 rc