Yup! It's just a compressed file that you can throw in your HD! 
So, for example, you can have stable version 1.5.1 plus latest beta!

That's not a programming question (question about code you show), I moved the topic.
Indeed, you can have as many versions of Processing as you want, the only restriction is what version will be launched when you double-click a .pde file. Personally, I never use this capability: I just launch the version I want and open my sketch.

Yep, both working fine, thanks GoToLoop!

Sorry for posting in the wrong location PhiLho.

Have being away for a while learning Python. Back in Black now

Thanks guys,

buzz