Can Arduino IDE 1.0.5 and Processing 1.5.1 peacefully coexist?

I need to install Processing 1.5.1 to program my Adafruit EZ-Key bluetooth "human interface device," but I don't want it to screw up my Arduino IDE v1.0.5. Anyone have these two happily living together on a Windows 7 machine?

Adafruit says no problem.