Like Mozilla and Firefox do, K-Meleon should save its profiles in Windows' Application Data directory so that it supports true multi-user setup.
The appdata dir is located in, for Win9x:
and for WinNT:
C:\Documents and Settings\USERNAME\Application Data
Info from the Forums :
it appears that SHGetFolderPath can be used to request, and create if it doesn't exist, the CSIDL_APPDATA folder (c:\documents and settings\<user>\ Application Data\ on Nt, 2000, & XP, likely c:\windows\Application Data\ on 9x and ME). See http://www.google.com/search?q=SHGetFolderPath
This is related to the "allow regular users to run admin-installed K-Meleon" bugs ( bug 370
, bug 384
, and bug 739
) and may even be a dupe, since the solution for those bugs would probably involve fixing this one as well.