Yeah I doubt it would fit on a floppy, but it's hard to tell, although I believe the windows installer still contains a dos compatible compiler and linker, open watcom doesn't seem to have a dos version. I have no idea how licensing goes for the old commercial versions.
I was thinking that perhaps it was simply to make a utility for a boot disk or something where cross compiling could be an option. Sometimes it's nice to have a modern ide, even if it lacks a little polish. It's also often indispensable to have a usable internet connection while programming.
Batch Variable how to