The best way to explain why the admin.cwr file does not exist is to explain the slight difference in the way that ePortfolio and CMC are implemented.
The ePortfolio application is a series of "real" HTML, CSP, JS and GIF files installed on either the web server or web component server.
The CMC application on the other hand does not exist as traditional web application. The CMC is really a series of URL commands with parameters being passed to the Web Component Server which are in turn processed by a series of DLLs. The Web Component Server then generates the HTML pages that are seen by the user. The "admin.cwr" in the redirect command is really an instruction that is passed to the Web Component Server call the CMC. The .CWR extension translates to "Crystal Web Request".
Now to get ePortfolio and CMC working on your local intranet site you must ensure that the correct variant of the CE Web Connector is installed on the web server and configured correctly (via the CCM).
I hope this helps.
Regards,
Steve Remington
Wave Business Solutions
steve.remington@wavebusiness.com.au