I dont think so...
I already have installed TC on a netbook which had XP on it (like you). I made xp and tc running in parallel. I made it in a manual way (not using tc-install when starting a multicore CD; but why not, it could be valuable to try that way for you). The pc is from a colleague, and Im writing from what I remember, so dont kill me if there are few unclear things here. I will edit and rework this post until your install will be done.
I made:
- defragment HDD with win xp
- re-defragment ..
- start a USB with gparted (or a CD with gparted) via tc or other OS then reduce the windows partition and create a ext4 partition for the tc files and tc extensions (2 gig should be enough). This partition should not be marked "boot".
- put the tc files (of the multicore.iso by using isomaster of of your usb stick on the ext4 partition): core.gz vmlinuz & diverse extensions like Xprogs wbar Xlibs.. see how to build here in this forum the full tc with core.gz and the extensions (in this step, perhaps it would be the opportunity to use tc-install for installing all files).
- create the multiboot xp/tc according
http://forum.tinycorelinux.net/index.php/topic,11265.msg58975.html#msg58975 - reboot
- choose the boot line for booting into tc
- make your tc setup (and create your backup)
hopefully this description is acceptable for you.