(1) You absolutely don't need ATM Light or ATM Deluxe to install and use Type 1 fonts in any version of WIndows 2000 or later including WIndows XP, Windows Vista, and Windows 7. Such support is built into the operating system itself.
(2) ATM Light and ATM Deluxe have not been supported by Adobe for quite a few years now because of (1) above. The only reason ATM Light is still available on Adobe's website is to continue supporting the miniscule number of Windows'9x users and Windows NT 4 users as well as users of 32-bit Windows users still using Type 1 Multiple Master fonts.
(3) There are absolutely no plans to offer a 64-bit version of ATM.
ATM Deluxe also provided a "manager" feature that allowed users to organize their vast set of fonts and disable them, on demand--features I wish I could still use.
Unfortunately, a number of folks are having significant trouble installing PS fonts in Windows 7. I found one site that recommended using ATM, but had the same issue as the original poster -- not compatible with 64-bit system. I would love for Adobe to recommend some solution!
Several third party font management applications are fully compatible with 64-bit Vista and 64-bit Windows 7, including my own company's. That would be Extensis Suitcase Fusion 2.
If you need ATM Light for multiple master font support, there are two key issues. First, ATM Light can run on 64-bit Windows, but won't install. Second, it is incompatible with User Account Control, a security feature in Vista. The following procedure has been reported to work on 64-bit Vista:
- install ATM Light on a 32-bit version of Windows
- turn off User Account Control on your 64-bit Vista computer (YES, this makes your computer less secure)
- copy the ATM directory over to the 64-bit Vista computer