We also make use of other translations such as the King James, Bible in Living English, American Standard Version, etc. Referencing other translations often gives a more complete understanding to a particular Bible passage. For example, 1 Corinthians 10:25, in the Origional King James Version speaks of "whatever is sold in the shambles." If a person did not reference other translations, he may not realize that a "shambles" in old English referred to a meat market. Therefore, he would never get the full sence of what was being said.
When studying with individuals who are not Jehovah's Witnesses, we use whatever translation they prefer. For this reason, Jehovah's Witnesses who want to be effective teachers of the Bible need to be very familiar with all different translations of the Bible. In my personal collection, I have several translations, including a Greek interlinear.
Jehovah's Witnesses take our Bible study very seriously, in fact we view it as our lifeline. The Bible is our sacred text.