apply different binarization thresholds to each of the images being combined
Why do you want to do this? The HDR composition algorithm works automatically. If your set of images really justifies an HDR composition, then the binarizing threshold shouldn't bee too critical, in general. That is, it shouldn't matter too much setting it to anything between 0.7 and 0.9 (don't take these numbers literally).
Of course there is an optimal value of binarizing threshold for each HDR set. In practice however, finding it to within reasonable accuracy should be a matter of a few tries.
If you can upload your HDR component images I can try to help you with HDRComposition.