You could just copy photoed.exe to the 2003 PC.
You may also have to copy the dlls:
CHALKCHA.DLL
EMBOSS.DLL
GRAPHICP.DLL
NOTEPAPE.DLL
PHOTOED.CNT
PHOTOED.EXE
PHOTOED.HLP
STAINEDG.DLL
STAMP.DLL
TEXTURIZ.DLL
WATERCOL.DLL
They are all in Program Files\Common Files\Microsoft Shared\PhotoEd on an Office XP PC.
Of course you might be in breach of copyright...
SD