Sorry to dig up an old thread but it's the only one on this topic so...
Will ZCO install if click2run is removed:
Howto: Remove Microsoft Office 2010 Click 2 Run
I don't have Home and Business but some of my users do so I can't try it.
Edit : found someone with Home and Business - removing c2r breaks OL
Edit2 : If anyone else finds this useful this works, although we've not thoroughly tested so don't come crying to me
Edit3 : This might have issues