No, don't do that. That is pointless. Running the hidden Adminsitraotr account means you don't have that backup anymore if your system gets hosed. And, trust me, thsiis not needed to get your setup working.
Instead, run *
both* Ventrilo and WoW as admin. When in an elevated app you';ll find that it will act as if it is in a sandbox - so that data cannot necessarily be pushed out to non elevated apps, and vice versa (try opening Firefox as admin, and then making sure it is set to only run one instance (only available, AFAIK, from Tab Mix Plus extension) and then try clicking a URL in, say, your email program that is *not* running as admin.
*Or*: write a small batch file that runs CMD elevated, and then loads both Ventrilo and WoW as admin - that might work even better (if my first suggestion does not work because of the two apps being sandboxed from each other) as both of them should then run as admin as a child process of the CMD window, and thus should both be inheriting the exact same privileges, and hopefully sandbox working space, from the CMD window.
Actually, I believe
you can just write the batch file itself to call the two apps and run *them* elevated and it will accomplish the same thing - I think.
Anyhoo, to do this you'll need an elevate script to install into your system that allows you to run the elevate VB Script that elevates the command following, much like sudo does in Linux. To get that, see
Utility Spotlight: Script Elevation PowerToys for Windows Vista - or you could get Start++ - see
http://www.vistax64.com/software/115872-free-software-list-vista.html
HTH