I will give up on my ambition to be able to install packages without server restarts. At least the way OpenACS is used right now, a server restart isn't a problem. People don't install new packages very often.
The stumbling block I ran into is that the procs of a newly installed package wouldn't be available in the interpreter that executes a scheduled procedure setup by the -init.tcl file. I guess if there is a way to load procs into all Tcl interpreters in AOLServer we would have a solution. I'm not spending any more time investigating this right now though.