Re-running this install script every time you install your private extension might be technically feasible, but rather quirky (if not inefficient).
In the end you'll have to figure out what this install script does, i.e. which additional files it stores in which directory. Probably along the lines of what
section 4 of the Wiki suggests: the file names would have to be put into a list (similar to what the 'find' command achieves in the Wiki), and then a temporary tar-archive would have to be created that contains the files in their hopefully "TC-compatible" setup. This tar-archive finally needs to be converted into an SquashFS file which is your target extension. I personally would prefer to skip over the tar-archive step, and go straight into setting up the target directory structure, but that depends on how well one knows certain commands.
Please make a really serious effort in reading the Wiki and working out what the suggested commands are doing (e.g. checking out man-pages, as can be found on
http://linux.die.net ). I for one are not planning to serve you every single command on a "silver platter".