'The Toad for DB2 installer has detected an existing 64-bit DB2 environment on your computer' (4278796)

User keeps getting a dialog box from the Toad installation which prevents him from installing it. The dialog box contains this text: 'The Toad for DB2 installer has detected an existing 64-bit DB2 environment on your computer. This installation of Toad for DB2 includes a 32-bit DB2 client. However, DB2 does not allow both 32-bit and 64-bit DB2 environments to exist on the same computer.'

Does Toad for DB2 v 4.7.1 support Windows 2008 64-bit?