I use :
//-----------------------------------------------------------
// SUBROUTINE TO LAUNCH A COPY OF WOW In Different Locations.
//-----------------------------------------------------------
<Command LaunchAndRename>
<SendPC %1%>
<Run "c:\Games\World of Warcraft\WoW.exe">
<RenameTargetWin %2%>
<RemoveWinFrame>
<Wait 1400>
<Text %3%>
<Wait 1400>
<Key Tab>
<Wait 1400>
<Text %4%>
<Wait 1400>
<Key Enter>




//-----------------------------------------------------------
// HOTKEY TO LAUNCH 5 WOW'S.
//-----------------------------------------------------------
<Hotkey Shift Alt Ctrl L>
<LaunchAndRename Local w1 "Account1" "password">
<LaunchAndRename Local w2 "Account2" "password">
<LaunchAndRename Local w3 "Account3" "password">
<LaunchAndRename Local w4 "Account4" "password">
<LaunchAndRename Local w5 "Account5" "password">

<Label wow1 Local SendWinSF w1>
<Label wow2 Local SendWinSF w2>
<Label wow3 Local SendWinSF w3>
<Label wow4 Local SendWinSF w4>
<Label wow5 Local SendWinSF w5>