Instead of hooking the registry access for the dll, you can use an inter-process lock mechanism for writing the values to the registry for your own app. The idea being that the lock acquired by instance1 isn't released until its dll "instance" has read the values, so that when instance2 starts it won't acquire the lock until instance1 has finished. You'd need a locking mechanism that works between processes for this to work. For example mutexes.
To create mutexes:
procedure CreateMutexes(const MutexName: string);
//Creates the two mutexes checked for by the installer/uninstaller to see if
//the program is still running.
//One of the mutexes is created in the global name space (which makes it
//possible to access the mutex across user sessions in Windows XP); the other
//is created in the session name space (because versions of Windows NT prior
//to 4.0 TSE don't have a global name space and don't support the 'Global\'
//prefix).
const
SECURITY_DESCRIPTOR_REVISION = 1; // Win32 constant not defined in Delphi 3
var
SecurityDesc: TSecurityDescriptor;
SecurityAttr: TSecurityAttributes;
begin
// By default on Windows NT, created mutexes are accessible only by the user
// running the process. We need our mutexes to be accessible to all users, so
// that the mutex detection can work across user sessions in Windows XP. To
// do this we use a security descriptor with a null DACL.
InitializeSecurityDescriptor(@SecurityDesc, SECURITY_DESCRIPTOR_REVISION);
SetSecurityDescriptorDacl(@SecurityDesc, True, nil, False);
SecurityAttr.nLength := SizeOf(SecurityAttr);
SecurityAttr.lpSecurityDescriptor := @SecurityDesc;
SecurityAttr.bInheritHandle := False;
CreateMutex(@SecurityAttr, False, PChar(MutexName));
CreateMutex(@SecurityAttr, False, PChar('Global\' + MutexName));
end;
To release a mutex, you'd use the ReleaseMutex API and to acquire a created mutex, you'd use the OpenMutex API.
For CreateMutex see: http://msdn.microsoft.com/en-us/library/ms682411(VS.85).aspx
For OpenMutex see: http://msdn.microsoft.com/en-us/library/ms684315(v=VS.85).aspx
For ReleaseMutex see: http://msdn.microsoft.com/en-us/library/ms685066(v=VS.85).aspx