I believe if you want all of keyclones functions to work on 1 PC with 1 monitor you will need to have the PiP
As you need to set up profiles etc. You can use just KC's basic key broadcasting by loading KC then manually
Loading however many instances of Wow you need and using the in-game windowed mode etc to resize and
Put one screen behind the other so you can just quickly switch between. I would suggest getting a cheap secondary
monitor for the alt if your running only 2 as it's just so much better to have KC's profiles working.
Using KC without the wizard should not be a task in anyway, its very simple BUT the battle.net section in the
Settings actually hasn't worked properly since it was introduced so just enter you e-mail in the username section
And it will work fine.

Yes you will need to purchase a second keyclone to run 2 PC's as its registered to only 1 PC at a time. I use 5 :P

Hope this helps and good luck

-Angel-