I quote from the Microstudio page on the MTU web site:
Computer Requirements
| - A Windows/PC computer with at least 2GB of free hard drive space. NOTE: Microstudio 4.001 and higher requires Windows 2000+SR4, or XP Home/Pro/Media Center+SR2, or Vista with .NET Framework v1.1 or higher. Microstudio 4.006 will NOT... repeat NOT... run with Vista 64. We know the problem exist and will fix it in Version 4.20.
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In other words, it won't work. When they do get it fixed and the new release out (don't know when) I do believe it will be a free upgrade.