Im running win 7 -64 bit and alchemy without an issue and if you are having issues with version 0.0.5 then why don’t you update to 0.0.6 and as Mr Beer quite rightly said it’s more than likely not a Cubase problem .
When installing Alchemy you have to be very careful with the install , if it doesn’t work right then you have to go back and clean the registry of all alchemy files .
I take it you rebooted every time after all the steps were taken ? sure you didn’t just uninstall and reinstall ?
Oh BTW a signature would help