Well the application isn't the whole of the game, it reads the data from the other files in that folder so if you're moving the application out of the folder then you click the application it's looking for the data still in the folder structure of "securitybooth\windows\securitybooth\Content\Paks".
If you want the application outside of the folder, right click the exe and there should be a "create shortcut" that can be moved about anywhere and should still work.