I understand your confusion.
I've installed the 32-bit agent on a 64-bit Windows 7 with Outlook 2003 32-bit
I've installed the 64-bit agent on a 64-bit Windows 7 with Outlook 2010 64-bit
The registry settings are correctly setup and also UAC is off. I have the CVPI: Focus error seen before in the past with other customers. However no failure or message is appearing in this case.
I will check the settings in Outlook today and give you an update.