It is possible to "fake register" your KT and unlock all features (i.e. Collections).
You have to place a file with the name "reginfo" in "/var/local/java/prefs/" (same method as for k2 and k3 i think, but the format of the file differs).
Here a modified example of the "reginfo" file i used today to register my kindle touch (Fw: 5.1.0):
#Fri Jun 15 07:35:22 GMT-06:47 2012