Unfortunately, SW2010 seems to require MDT to open MDT parts.
I'm running MDT 5 on XP64. I set it to run in XP compatibility mode and it works fine. Unfortunately, the service packs are not as cooperative, so I think I'm running SP0.
As far as I'm reading in the help files, it does still have to be installed:
"You must have MDT installed on your desktop, but it does not have to be running, to use the MDT translator."
This is the 2010 Help Files