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The 64 bit version does not support some features like REST explorer. The 32 bit version does not work well with some of my large projects due to memory limitations. I already have the 32 bit version installed and wanted to install 64 bit in another location however when I run the installer it detects the 32 bit installation and only offers repair and uninstall.
To install 64 bit MyEclipse, you can delete the corresponding entry from the .deliverycenter file which is located in the <User Home Directory> and then rerun the installer.