I’m running PadShop Pro on Vista32 with Reaper with no problems at all. I dunno what’s causing your problem but I don’t think it’s Vista.
Just going by memory here. When I tried the demo I let it install as it wanted, I didn’t change any of the installation folders … and I did use the eLicenser. There was no separate transmittal of an activation code. My thought is that it’s included in the demo and auto detected by the eLicenser.
If you didn’t use the eLicenser I think that’s likely your problem … dunno about changing the installation folders though.
KenB