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