The new Dynamics AX (aka AK7) does not currently support tools to install and manage more than one AX metadata store on the same developer instance. We are working on tools to support this scenario in the future.
This article gives you tips on how you can achieve this by manually configuring your developer VM. This is specially useful on in the following scenarios:
On a Dynamics AX dev VM, you can find most of the application configuration by opening the web.config file of the AOSWebApplication.
Another key configuration that is relevant to this topic is the name of the cross reference database used by the AX Visual Studio dev tools. It is specified in the file <My Documents>\Visual Studio 2015\Settings\DynamicsDevConfig.xml
web.config refers to the packages folder by quite a few other keys, such as Aos.MetadataDirectory and bindir. Is it save to ignore them?
I know this is old thread, so apologies for that.
I stumbled across this and found this post fantastic. I did notice notice though that the 'Batch Management Service' should also be stopped as well as IIS. I couldn't edit anything (such as delete an unwanted package folder) in the without stopping the batch service. I think that is an important step (directly after stopping IIS) that I thought I'd share based on my experience.