Yes. TotalFinder's injector code (TotalFinder.osax) expects TotalFinder.bundle to be at specific location(s). The apple event simply contains a request for injection, but does not contain a path or other specification where to find the bundle to be injected.
You can reconfigure it by creating
~/.totalfinder-install-location text file which will contain path to your custom TotalFinder.bundle.
Please look at this code: