If a UTP script is launched from ALM can it still use resources for .qfl/.vbs library files set in files\settings\resources?
Can the library files be accessed from inside of ALM?
The short answer to your question is 'yes' ;-)
in File>Settings>Resources, your script will hold a relative path that looks like something like [Quality Center] Resources\my Folder\
in Tools > Options > [GUI Tests] > Folders you will also see (or create) some ALM-based paths for reference.
... just another Tester ...