Yes, you can download standalone IPP, if you have update release of IPP, if its different from one which you already installed with composer then it will install side-by-side(multiple copies of the library are installed), in the IPP root directory.
Windows: C:\Program Files\Intel\ComposerXE-2011.x.yyy\ipp\
To know which version of IPP you have it with composer, refer to -
We try to align updates to IPP with updates to Composer (and the compiler). Updates tend to occur about once per quarter, but that is not a strictly definedschedule. In other words, not every update of Composer is guaranteed to include a new update for IPP, but in general that will be the case.
Hope that helps with your scheduling,