K2F is a generic framework for Rapid Application Development (RAD) in PHP.
This plugin does not contain K2F, you have to download K2F separately.
NOTE: As of v2.0, K2F can be installed automatically within the plugin.
K2F can be put anywhere on the server. It can be shared between different CMSes as well as multiple instance of WordPress. You just have to change settings in the K2F Wrapper Plugin to reflect this path.