Hi Igor,
yes, it is possible, but you have to use two different IB GW instances (one for live account, the other one for paper account). Then you need to run two separate instances of PTL Trader, and connect the first one to the live IB GW and the second one to the paper IB GW.
I tried this setup once and there was some problem running two separate instances of IB GW on a single machine. So it is possible you need two (virtual or physical) computers to run this setup.
Try it for yourself.
Kind regards,
Karel