How to use latex2rtf without root installation
Thanks to Mark for the solution, which was pretty basic, indeed:

Open your .bash_profile file in Home directory (you can use terminal to open it, or tick "Show Hidden Items" in Finder on OS X 10.9.4). Add following to it:

export PATH=$PATH:/Users/.../latex2rtf/bin

Where the part after ":" specifies the location of latex2rtf file. In this case "..." is the home directory.

Save the file and exit. Run following in terminal:

source $HOME/.bash_profile

latex2rtf command should work now in terminal. The code is from here.