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I've received a reply from ZTorm support:
Our technicians told me that XP 64 is not fully supported yet. But they are working on fixing those issues. At the moment I cant give you any estimated time on when this fixes could be implemented though ...
So apparently there is a problem. I have not been able to get the POD purchased HOI2 to work yet, but if it will be fixed then I can wait (I have been able to acquire the game through other means, without having a gulity conscience since I have bought the game anyway ;) )
 
thanks for letting me know, please post back when they fix the problem.

I will note for everyone else reading the thread that, this effects the Ondemand downloaded version of the game only and the one that comes on CD is fine to run on 64Bit machines.
 
Just a final update on this issue from my side:
Hello.

I talked to our technicians and they have no ETA on a fix for x64. It might not be able to have an patch for this until early next year.

If you dont feel like waiting we can offer you a full refund.
I have accepted the refund and will be buying a retail version of the game.
 
Too bad, hopefully software technology will catch up with Hardware technology soon.