Well, after looking over the source of the game binary and all the networking tidbits involved, it's safe to say that a private server would be a bit.. impractical at the moment. As it stands, HW's "server" aspect is simply a relay, so clients can tell eachother what they're doing. The problem with this is that basically all the logic is left up to the individual clients, making a dedicated server a bit of a "waste", short of writing some sort of server to just relay the packets and select one of the clients to be the actual "host", which would be a bit pointless. It also creates a bit of a problem, since HW utilizes UDP mainly as opposed to TCP, so a middle-man would be more of a harm than good. HW also doesn't really _have_ a protocol, but rather just passes around objects via packets and the clients just pull the objects from the packets.
So, well, I guess my hopes are dashed. While I slightly dislike the method used for multiplayer in the game (for reasons like the fact that each client can give themselves unlimited mana/hp/etc, as well as send false packets to gain things like unlimited lives or keys, which would reflect on _all_ clients), it does do its job as intended.
I'll just wait around to see where the game goes from here
I enjoy playing it as-is, so that's fine in the long run.