This is indeed a 32bit application, but it's not compatible with 64bit. I have Windows 10 and tried to use the application. All went fine until I tried to launch the application again. Windows displayed a message saying that it can't launch this file, therefore it's not compatible with 64bit.
I've tried it on Windows a 32bit version and it works just fine.
You need to inform the developer to release a new version compatible with 64bit: http://www.xdyne.com/2.0/contact.htm