can I delete this directory without worry of consequences such as problems with future use of the pp module etc ?

Yes you can -- temp directory is temp directory, its for temp stuff , delete at will

Re^2: How PAR pp works?

Alternaties to PAR http://www.cavapackager.com/appdocs/contents.htm, http://www.citrusperl.com/helpweb/createdistribution.htm, http://www.citrusperl.com/helpweb/createexecutable.htm