"He who marches out of step hears another drum." ~ Ken Kesey
I would bet that you could... might be in the grey area but I know of other dongle based software that the office did that (they have since closed up shop)... it was cabinet design software to the tune of 20k (not much different than wilcom in many regards.So I would say yes... basically those types of software checks for the dongles when starting up (maybe periodically while running as well). So just have it shut down before removing the dongle and then move it and you should be fine.
You can install on multiple machines but just like you thought you have to switch the dongle. You cannot pull the dongle when the prog is open on one machine or it just freezes or throws you a warning, not a bad thing of course because it forces people to save and stay organized.
Just be careful with the dongle though.....people start handling it and it gets broke or lost, it will cost you. They will not just send you a new one, you will have to pay for it.