No it does not.
The installer is structured to install to the root directory of your EB installation. Which in your case would be.....
C:\Program Files\Activision\Rome - Total War
If you pointed the installer to the target line in the qoute; you would have a second EB folder within the actual EB mod folder. Which of course would not do. Point the installer to the above root directory and you'll be fine......or of course you can manually install as Ludens suggested. Either way will work just fine.
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