It is really not the right place for it and you only think that because you don't understand the value of a portable installation, where all the settings and dependent files are contained within a local directory structure. This allows you to create as many installs of VC as you want, in order to test new configurations or upgrades, simply by copying a folder. You can create a back up of your entire solution simply by copying a folder. Nature of VC makes this an asset as well as a requirement.
Just because the conventional method is expected, doesn't mean we should use it, when it is clearly inferior to another method.
The way that windows underhandedly redirects requests for files located in program files without raising any kind of exception to the user, or to the program makes this kind of thing impossible. You think you are accessing a folder that is a subfolder of your install, but really you are being sent to some imaginary path that windows considers "safe". And when you try to make a backup of your folder, you are not actually backing up the correct files.
If you install and run VC under program files you are going to have problems eventually. Guaranteed. Don't do it. Even if it seems to be working.