Zoom Player is capable of running multiple and completely separated (different settings) copies of the player.

The first thing you need to do is enable "Multiple Instances" under "Advanced Options / System". This setting allows Zoom Player to run more than one copy at once.

If you need Zoom Player to keep different settings for each copy you run, you must first copy the Zoom Player directory to a new directory so that you in fact have two Zoom Player directories containing all the Zoom Player files.

Zoom Player remembers most of its settings in the Windows Registry (HKEY_CURRENT_USER\Software\VirtuaMedia\ZoomPlayer), so the next step is to tell one of the Zoom Player copies to save its settings in a different registry location. This is done by using any text editor to create a file named "zplayer.regpath" within one of the Zoom Player directories (doesn't matter which one as one will use the old registry location and one with this new file will use a new registry location).

To specify the actual location, you need to write a line within the newly created "zplayer.regpath" file, for example:
   HKEY_CURRENT_USER\Software\VirtuaMedia\ZoomPlayerTwo

Another issue you may encounter is that certain control applications (such as Girder) may require a way to distinguish between the two running Instances. This is done by adding a second line into the "zplayer.regpath" file, for example:
   HKEY_CURRENT_USER\Software\VirtuaMedia\ZoomPlayerTwo
   ZPTwo

The second line defines a new window name for Zoom Player which makes it easier for 3rd party application to distinguish between different instances.

With the "zplayer.regpath" file in the Zoom Player directory, you're good to go. If for some reason this doesn't seem to be working, more than likely it's because the text editor you used to create the "zplayer.regpath" file, actually created the file as "zplayer.regpath.txt", so double check that the file name is correct.