This is because VBA version 6.4 was designed to be used by multiple users on the same machine, hence it was registered in the HKEYLOCALMACHINE registry. Whereas, VBA version 6.5 was designed to be used by a single user only, hence it was registered in the HKEYCURRENTUSER registry. This allowed for greater security and prevented other users on the same machine from potentially accessing or modifying the VBA settings.