Here are few steps that will allow you to run multiple instances of utorrent

1. Create a new folder
2. Copy %ProgramFiles(x86)%\utorrent\utorrent.exe into that folder
3. Copy the .dat files from %appdata%\uTorrent into this new folder
4. Create a shortcut for this utorrent.exe in this folder
5. Edit the shortcut's target by adding /RECOVER to the end of the Target, outside of any quotation marks and separated with a space like this C:\Users\Small\Desktop\u\uTorrent.exe /RECOVER.
6. Open this shortcut and edit the IP and/or port you want to use. Settings will be in that folder.

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