My suggestion is to talk to your PTC or VAR account manager about view/print licensing for "extended" internal users.
External licensing obviously doesn't apply to internal users (and, yes, this is auditable). I believe using a "virtual" account for access is in violation of the EULA and obviously does not support role/user-based access control nor the ability to track who has accessed information in the system. I think you will find more prevalence of view/print licensing since it is often sold inconjunction with the Windchill Web Parts for SharePoint module which is designed to proliferate data through the SharePoint environment (which is a terrific way to share valuable PLM data to "extended users" outside of core engineering).
There may be rules around heavy/light/qvp licensing ratios along with economies of scale considerations, so you really need to talk to your individual account manager...
Could you share the complete sql code? I have an excel file that will let users query windchill but the user must login. This is not ideal due to cost.
may want to check out this thread:
Quite some time ago I played around with this and was able to retreive drawings published in windchill from a command line prompt. No windchill user interface needed.