You can use the recipe: Toba Garrett's Glace' icing. It's found in the recipe section here. There is no meringue powder in it.
It works pretty much the same as royal, just takes a little bit longer to dry. And, it is stackable. It has a great shine in the finished product. Some of my cookies (pink ducks, wedding cake, valentine hearts) were made with this icing.
You can do it both ways... I have been doing it right out of the oven - the MMF sort of "melt" onto the cookie (not really melts, more like settles and attaches). BUT, there've been some recent posts about putting them on cooled cookies and rolling it out a bit so the MMF covers more, and that intrigues me.
Here's the thread that got my attention:
http://www.cakecentral.com/modules.php?name=Forums&file=viewtopic&t=152761&postdays=0&postorder=asc&&start=0
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