This approach has a few drawbacks. As Presumed_Lost stated you need to leave the CD in the drive (the programs runs from there). You also need to able to boot from the CD drive. That may not be a problem at your home but some admins are not going to allow that on their machines.
If you just need access to the information a portable format like HTML,XML or PDF may be better. There are readers for most operating systems.
BTW:
The Knoppix CD can be legally remastered to contain the OS, a few programs and your data. You may have to ditch some of the programs on the CD to make room for your data (you donīt need the cool games for your purpose, do you?) but it should be feasible.
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If it isnīt broken, it doesnīt have enough features yet.