Running SONAR as administrator is not the worst thing ever.
It is unfortunate that IK choose not to update their software when the security model changed. I believe the change affecting this plug-in occurred during Vista. In addition to the registry issue there is the 32bit problem. The plug-in will never have a 64bit version or ever be updated again. It will always require additional software to work properly in a 64bit host. The best solution for 32bit plug-ins in a 64bit environment is retirement. If older projects containing 32bit plug-ins must be revisited, keep a 32bit host configured for the task.