Если верить FAQ, последняя версия программы может работать с VSS на 64-битных ОС. Надо бы поправить шапку.
Q: I cannot create a VSS snapshot or cannot use Volume Shadow Copies at all. Why?
In old versions only (this doesn't apply to Version 11): Cobian Backup is a 32 bit application and, on 64 bit systems it must run under WOW64. This works fine on XP64 or Windows Server 2003 64 because 32 bit programs are allowed to call VSS from WOW64. Vista and Windows Server 2008 don't allow that and VSS must be called as a native 64 bit application, which means that you can't use VSS from Cobian Backup on Vista 64 at this moment. A solution for this issue could be found in the future.